{"data":{"id":"us-ny/n.y.-uniform-commercial-code-law-8-116","jurisdiction":"us-ny","citation":"N.Y. Uniform Commercial Code Law § 8-116","heading":"Securities Intermediary as Purchaser for Value","body":"Section 8--116. Securities Intermediary as Purchaser for Value.\n  A securities intermediary that receives a financial asset and\nestablishes a security entitlement to the financial asset in favor of an\nentitlement holder is a purchaser for value of the financial asset. A\nsecurities intermediary that acquires a security entitlement to a\nfinancial asset from another securities intermediary acquires the\nsecurity entitlement for value if the securities intermediary acquiring\nthe security entitlement establishes a security entitlement to the\nfinancial asset in favor of an entitlement holder.","path":["Uniform Commercial Code Law","Article 8. Investment Securities","Part 1. Short Title and General Matters"],"source_url":"https://legislation.nysenate.gov/api/3/laws/UCC/8-116","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"6b20397fe2fe3bd614fded5d99fa0a558dea04b3f8c3694f26a22c20a59300a3","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-uniform-commercial-code-law-8-115","next":"us-ny/n.y.-uniform-commercial-code-law-8-201"},"notice":"GroundRules: Original legal text. Not legal advice."}