Section 4.20 Receipts From Collateral Financial Assets and Asset-Backed Securities
| Library | Trusts and Powers 2013 Supp |
L. (§4.20) Receipts From Collateral Financial Assets and Asset-Backed Securities
The Act provides for the allocation of receipts from asset-backed security transactions. The Act defines the term “asset-backed security” to mean “an asset whose value is based upon the right it gives the owner to receive distributions from proceeds of financial assets that provide collateral for the security.” Section 469.449.1, RSMo Supp. 2005. This “includes an asset that gives the owner the right to receive from the...
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