NRS 104.8115: Securities intermediary and others not liable to adverse claimant.
Where this section sits in the code
- TITLE 8 — COMMERCIAL INSTRUMENTS AND TRANSACTIONS
- CHAPTER 104 - UNIFORM COMMERCIAL CODE—ORIGINAL ARTICLES
- INVESTMENT SECURITIES
- Short Title and General Matters
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 his or her customer or principal, is not liable to a person having an adverse claim to the financial asset, unless he or she:
1. Took the action after he or she had been served with an injunction, restraining order or other legal process enjoining him or her 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;
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 had been stolen, acted with notice of the adverse claim.
Collected 2026-09-03T05:51:31Z. Source file · JSON