{"data":{"id":"us-nc/n.c.-gen.-stat.-25-8-115","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-8-115","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)\tTook 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)\tActed in collusion with the wrongdoer in violating the rights of the adverse claimant; or\n(3)\tIn the case of a security certificate that has been stolen, acted with notice of the adverse claim. (1997-181, s. 1.)","path":["Chapter 25. Uniform Commercial Code.","Article 8. Investment Securities.","Part 1. Short Title and General Matters."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-8-115.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"8888a60ad7e613bf324858ba3648fb880a13143577ef50a31aeed4ab799ab5bc","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-8-114","next":"us-nc/n.c.-gen.-stat.-25-8-116"},"notice":"GroundRules: Original legal text. Not legal advice."}