(8-116) Securities intermediary as purchaser for value

N.D. Cent. Code § 41-08-16
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
41-08-16. (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 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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t41c08.pdf#nameddest=41-08-16Fetched: 10/16/2026
N.D. Cent. Code § 41-08-16 — (8-116) Securities intermediary as purchaser for value | North Dakota Century Code (Aug. 2026 snapshot) | Corpus