{"code":"COM","codeName":"Commercial Code","section":"8116","citation":"Com. Code, § 8116","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 8. INVESTMENT SECURITIES [8101. - 8603.]","url":"https://blackletter.si/commercial-code/division-8"},{"name":"CHAPTER 1. Short Title and General Matters [8101. - 8116.]","url":"https://blackletter.si/commercial-code/division-8/chapter-1"}],"history":"Added by Stats. 1996, Ch. 497, Sec. 9.   Effective January 1, 1997.","effective":"1997-01-01","html":"<p>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.</p>","text":"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.","otherVersions":[],"url":"https://blackletter.si/commercial-code/short-title-and-general-matters-8116","source":"California Legislative Information bulk export (pubinfo)"}