Okla. Stat. tit. 12A, § 12A-8-115: Securities Intermediary and Others Not Liable to
Where this section sits in the code
- OK Code
- Title 12A
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.
Collected 2026-09-14T18:32:36Z. Source file · JSON