{"data":{"id":"us-al/ala.-code-7-8-115","jurisdiction":"us-al","citation":"Ala. Code § 7-8-115","heading":"Securities Intermediary and Others Not Liable to Adverse Claimant.","body":"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:\n(1) took the action after it had 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\n(2) acted in collusion with the wrongdoer in violating the rights of the adverse claimant; or\n(3) in the case of a security certificate that has been stolen, acted with notice of the adverse claim.","path":["Title 7 Commercial Code.","Article 8 Investment Securities.","Part 1 Short Title and General Matters."],"source_url":"https://alison.legislature.state.al.us/code-of-alabama?section=7-8-115","current_through":"Act 2026-611","vintage":"","retrieved_at":"2026-09-03T14:01:52Z","sha256":"93ec3dbe865ec68c4608e6794e9ebfa7fd5209787ee20b25c70280875128b7de","source_id":"us-al","stale":false,"prev":"us-al/ala.-code-7-8-114","next":"us-al/ala.-code-7-8-116"},"notice":"GroundRules: Original legal text. Not legal advice."}