RCW 62A.8-116
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.
[ 1995 c 48 § 16.]
NOTES:
Effective date—1995 c 48: See RCW 62A.11-113.
Structure Revised Code of Washington
Title 62A - Uniform Commercial Code
Chapter 62A.8 - Investment Securities.
62A.8-104 - Acquisition of security or financial asset or interest therein.
62A.8-105 - Notice of adverse claim.
62A.8-107 - Whether indorsement, instruction, or entitlement is effective.
62A.8-108 - Warranties in direct holding.
62A.8-109 - Warranties in indirect holding.
62A.8-110 - Applicability; choice of law.
62A.8-111 - Clearing corporation rules.
62A.8-112 - Creditor's legal process.
62A.8-113 - Statute of frauds inapplicable.
62A.8-114 - Evidentiary rules concerning certificated securities.
62A.8-115 - Securities intermediary and others not liable to adverse claimant.
62A.8-116 - Securities intermediary as purchaser for value.
62A.8-202 - Issuer's responsibility and defenses; notice of defect or defense.
62A.8-203 - Staleness as notice of defect or defense.
62A.8-204 - Effect of issuer's restrictions on transfer.
62A.8-205 - Effect of unauthorized signature on security certificate.
62A.8-206 - Completion or alteration of security certificate.
62A.8-207 - Rights and duties of issuer with respect to registered owners.
62A.8-208 - Effect of signature of authenticating trustee, registrar, or transfer agent.
62A.8-302 - Rights of purchaser.
62A.8-303 - Protected purchaser.
62A.8-306 - Effect of guaranteeing signature, indorsement, or instruction.
62A.8-307 - Purchaser's right to requisites for registration of transfer.
62A.8-401 - Duty of issuer to register transfer.
62A.8-402 - Assurance that indorsement or instruction is effective.
62A.8-403 - Demand that issuer not register transfer.
62A.8-404 - Wrongful registration.
62A.8-405 - Replacement of lost, destroyed, or wrongfully taken security certificate.
62A.8-407 - Authenticating trustee, transfer agent, and registrar.
62A.8-501 - Securities account; acquisition of security entitlement from securities intermediary.
62A.8-502 - Assertion of adverse claim against entitlement holder.
62A.8-504 - Duty of securities intermediary to maintain financial asset.
62A.8-505 - Duty of securities intermediary with respect to payments and distributions.
62A.8-506 - Duty of securities intermediary to exercise rights as directed by entitlement holder.
62A.8-507 - Duty of securities intermediary to comply with entitlement order.
62A.8-510 - Rights of purchaser of security entitlement from entitlement holder.
62A.8-511 - Priority among security interests and entitlement holders.