{"data":{"id":"us-tx/tex.-business-commerce-code-8.116","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 8.116","heading":"SECURITIES INTERMEDIARY AS PURCHASER FOR VALUE.","body":"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.\nAdded by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.","path":["BUSINESS AND COMMERCE CODE","TITLE 1. UNIFORM COMMERCIAL CODE","CHAPTER 8. INVESTMENT SECURITIES","SUBCHAPTER A. SHORT TITLE AND GENERAL MATTERS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.8.htm#8.116","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"0b8e1a648209049639033c65c3485c5d7b360dae860c71018399d0e77d01c584","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-8.115","next":"us-tx/tex.-business-commerce-code-8.201"},"notice":"GroundRules: Original legal text. Not legal advice."}