Okla. Stat. tit. 12A, § 12A-8-115
This is the official text of Okla. Stat. tit. 12A, § 12A-8-115, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Securities Intermediary and Others Not Liable to
Official statutory text
Adverse Claimant.
Securities Intermediary and Others Not Liable to Adverse
Claimant.
A securities intermediary that has transferred a financial asset
pursuant to an effective entitlement order, or a broker or other
agent or bailee that has dealt with a financial asset at the
direction of its customer or principal, is not liable to a person
having an adverse claim to the financial asset, unless the
securities intermediary, or broker or other agent or bailee:
(1) took the action after it has been served with an
injunction, restraining order, or other legal process
enjoining it from doing so, issued by a court of
competent jurisdiction, and had a reasonable
opportunity to act on the injunction, restraining
order, or other legal process; or
(2) acted in collusion with the wrongdoer in violating the
rights of the adverse claimant; or
(3) in the case of a security certificate that has been
stolen, acted with notice of the adverse claim.
Securities Intermediary and Others Not Liable to Adverse
Claimant.
A securities intermediary that has transferred a financial asset
pursuant to an effective entitlement order, or a broker or other
agent or bailee that has dealt with a financial asset at the
direction of its customer or principal, is not liable to a person
having an adverse claim to the financial asset, unless the
securities intermediary, or broker or other agent or bailee:
(1) took the action after it has been served with an
injunction, restraining order, or other legal process
enjoining it from doing so, issued by a court of
competent jurisdiction, and had a reasonable
opportunity to act on the injunction, restraining
order, or other legal process; or
(2) acted in collusion with the wrongdoer in violating the
rights of the adverse claimant; or
(3) in the case of a security certificate that has been
stolen, acted with notice of the adverse claim.
Status: in_force · Read it on the official government site
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