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The Florida Statutes

The 2018 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS
Chapter 678
UNIFORM COMMERCIAL CODE: INVESTMENT SECURITIES
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F.S. 678.1161
678.1161 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.s. 1, ch. 98-11.