Assertion of adverse claim against entitlement holder

1. Law
2. Maine Revised Statutes
3. UNIFORM COMMERCIAL CODE
4. INVESTMENT SECURITIES
5. SECURITY ENTITLEMENTS
6. Assertion of adverse claim against entitlement holder

§8-1502. 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 8-1501 for value and without notice of the adverse claim.   [PL 1997, c. 429, Pt. B, §2 (NEW).]

SECTION HISTORY

PL 1997, c. 429, §B2 (NEW).

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