Sec. 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.
Added by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 8 - Investment Securities
Subchapter E. Security Entitlements
Section 8.501. Securities Account; Acquisition of Security Entitlement From Securities Intermediary
Section 8.502. Assertion of Adverse Claim Against Entitlement Holder
Section 8.504. Duty of Securities Intermediary to Maintain Financial Asset
Section 8.505. Duty of Securities Intermediary With Respect to Payments and Distributions
Section 8.506. Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder
Section 8.507. Duty of Securities Intermediary to Comply With Entitlement Order
Section 8.510. Rights of Purchaser of Security Entitlement From Entitlement Holder
Section 8.511. Priority Among Security Interests and Entitlement Holders