KRS 355.8-116: 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 en titlement 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.