{"data":{"id":"us-me/11-m.r.s.-8-1115","jurisdiction":"us-me","citation":"11 M.R.S. §8-1115","heading":"Securities intermediary and others not liable to adverse claimant","body":"(1).   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(a).  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;\n(b).  Acted in collusion with the wrongdoer in violating the rights of the adverse claimant; or\n(c).  In the case of a security certificate that has been stolen, acted with notice of the adverse claim.","path":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 1: SHORT TITLE AND GENERAL MATTERS"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec8-1115.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"2b359d4c5130e491fba324a0d8bf1b0cfbdba2ae56ea3fe556b1ca0441be7c67","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-8-1114","next":"us-me/11-m.r.s.-8-1116"},"notice":"GroundRules: Original legal text. Not legal advice."}