§ 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 of this title for value and without notice of the adverse claim. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)
Structure Vermont Statutes
Title 9A - Uniform Commercial Code
Article 8 - Investment Securities
§ 8—104. Acquisition of security or financial asset or interest therein
§ 8—105. Notice of adverse claim
§ 8—107. Whether indorsement, instruction, or entitlement order is effective
§ 8—108. Warranties in direct holding
§ 8—109. Warranties in indirect holding
§ 8—110. Applicability; choice of law
§ 8—111. Clearing corporation rules
§ 8—112. Creditor’s legal process
§ 8—113. Statute of frauds inapplicable
§ 8—114. Evidentiary rules concerning certificated securities
§ 8—115. Securities intermediary and others not liable to adverse claimant
§ 8—116. Securities intermediary as purchaser for value
§ 8—202. Issuer’s responsibility and defenses; notice of defect or defense
§ 8—203. Staleness as notice of defect or defense
§ 8—204. Effect of issuer’s restriction on transfer
§ 8—205. Effect of unauthorized signature on security certificate
§ 8—206. Completion or alteration of security certificate
§ 8—207. Rights and duties of issuer with respect to registered owners
§ 8—208. Effect of signature of authenticating trustee, registrar, or transfer agent
§ 8—306. Effect of guaranteeing signature, indorsement, or instruction
§ 8—307. Purchaser’s right to requisites for registration of transfer
§ 8—401. Duty of issuer to register transfer
§ 8—402. Assurance that indorsement or instruction is effective
§ 8—403. Demand that issuer not register transfer
§ 8—404. Wrongful registration
§ 8—405. Replacement of lost, destroyed, or wrongfully taken security certificate
§ 8—406. Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate
§ 8—407. Authenticating trustee, transfer agent, and registrar
§ 8—501. Securities account; acquisition of security entitlement from securities intermediary
§ 8—502. Assertion of adverse claim against entitlement holder
§ 8—503. Property interest of entitlement holder in financial asset held by securities intermediary
§ 8—504. Duty of securities intermediary to maintain financial asset
§ 8—505. Duty of securities intermediary with respect to payments and distributions
§ 8—506. Duty of securities intermediary to exercise rights as directed by entitlement holder
§ 8—507. Duty of securities intermediary to comply with entitlement order
§ 8—510. Rights of purchaser of security entitlement from entitlement holder
§ 8—511. Priority among security interests and entitlement holders