{"data":{"id":"us-mi/mich.-comp.-laws-440.8116","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.8116","heading":"Securities intermediary as purchaser for value of financial asset; acquisition of security entitlement for value.","body":"Sec. 8116.\n\nA 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.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-8116","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"f152582a8f50494dcc140d2f06e742938225798e2091aa7e62445d71d3960e51","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.8115","next":"us-mi/mich.-comp.-laws-440.8201"},"notice":"GroundRules: Original legal text. Not legal advice."}