{"data":{"id":"us-mi/mich.-comp.-laws-440.8115","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.8115","heading":"Transferring or dealing with financial asset; liability of securities intermediary, broker, or agent.","body":"Sec. 8115.\n\nA 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 did 1 or more of the following:\n\nTook 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\nActed in collusion with the wrongdoer in violating the rights of the adverse claimant.\n\nIn the case of a security certificate that has been stolen, acted with notice of the adverse claim.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-8115","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"eb413e9dd4d632b50377782ee262fa8ca2c5001e7a432f693cfeac7ca382b37c","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.8114","next":"us-mi/mich.-comp.-laws-440.8116"},"notice":"GroundRules: Original legal text. Not legal advice."}