The trustee or other liquidator, acting on behalf of all entitlement holders having security entitlements with respect to a particular financial asset, may recover the financial asset, or interest therein, from the purchaser. If the trustee or other liquidator elects not to pursue that right, an entitlement holder whose security entitlement remains unsatisfied has the right to recover its interest in the financial asset from the purchaser.
Structure 2021 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 8 - Investment Securities
Part 5 - Security Entitlements
§ 47-8-502. Assertion of Adverse Claim Against Entitlement Holder
§ 47-8-503. Property Interest of Entitlement Holder in Financial Asset Held by Securities Intermediary
§ 47-8-506. Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder