Legislation
SECTION 8-502
Assertion of Adverse Claim against Entitlement Holder
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 8, PART 5
Section 8--502. Assertion of Adverse Claim against Entitlement Holder.
An action based on an adverse claim to a financial asset, whether
framed in conversion, replevin, constructive trust, equitable lien, or
other theory, may not be asserted against a person who acquires a
security entitlement under Section 8--501 for value and without notice
of the adverse claim.
An action based on an adverse claim to a financial asset, whether
framed in conversion, replevin, constructive trust, equitable lien, or
other theory, may not be asserted against a person who acquires a
security entitlement under Section 8--501 for value and without notice
of the adverse claim.