30-8-126. Securities intermediary as purchaser for value. 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.
History: En. Sec. 36, Ch. 536, L. 1997.
Structure Montana Code Annotated
Chapter 8. Uniform Commercial Code Investment Securities
Part 1. Short Title and General Matters
30-8-109. through 30-8-111 reserved
30-8-114. Acquisition of security or financial asset or interest therein
30-8-115. Notice of adverse claim
30-8-117. Whether indorsement, instruction, or entitlement order is effective
30-8-118. Warranties in direct holding
30-8-119. Warranties in indirect holding
30-8-120. Applicability -- choice of law
30-8-121. Clearing corporation rules
30-8-122. Creditor's legal process
30-8-123. Statute of frauds inapplicable
30-8-124. Evidentiary rules concerning certificated securities
30-8-125. Securities intermediary and others not liable to adverse claimant