A securities intermediary that receives a financial asset and establishes a security entitlement to the financial asset in favor of an entitlement holder is a purchaser for value of the financial asset. A securities intermediary that acquires a security entitlement to a financial asset from another securities intermediary acquires the security entitlement for value if the securities intermediary acquiring the security entitlement establishes a security entitlement to the financial asset in favor of an entitlement holder.
Structure Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 8 - Uniform Commercial Code-Revised Article 8. Investment Securities
Part 1 - . Short Title and General Matters
§ 75-8-104. Acquisition of security or financial asset or interest therein
§ 75-8-105. Notice of adverse claim
§ 75-8-107. Whether indorsement, instruction, or entitlement order is effective
§ 75-8-108. Warranties in direct holding
§ 75-8-109. Warranties in indirect holding
§ 75-8-110. Applicability; choice of law
§ 75-8-111. Clearing corporation rules
§ 75-8-112. Creditor's legal process
§ 75-8-113. Statute of frauds inapplicable
§ 75-8-114. Evidentiary rules concerning certificated securities
§ 75-8-115. Securities intermediary and others not liable to adverse claimant