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  • SECTION 8-501
    Securities Account; Acquisition of Security Entitlement from Securities Intermediary
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  • PART 5
    Security Entitlements
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  • SECTION 8-503
    Property Interest of Entitlement Holder in Financial Asset held by Securities Intermediary
    • This entry was published on 2014-09-22
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    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.