2021 Code of Alabama
Title 7 - Commercial Code.
Article 8 - Investment Securities.
Part 5 - Security Entitlements.
Section 7-8-502 - Assertion of Adverse Claim Against Entitlement Holder.

Universal Citation: AL Code § 7-8-502 (2021)

Section 7-8-502

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 acquired a security entitlement with respect to such financial asset under Section 7-8-501 for value and without notice of the adverse claim.

(Acts 1996, No. 96-742, p. 1241, §1.)

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