{"data":{"id":"us-sd/sdcl-57a-8-115","jurisdiction":"us-sd","citation":"SDCL § 57A-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.\nSource: SL 1998, ch 284, § 1.","path":["TITLE 57A. UNIFORM COMMERCIAL CODE","CHAPTER 57A-8. INVESTMENT SECURITIES"],"source_url":"https://sdlegislature.gov/Statutes/57A-8-115","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"011328c390f25505b8046f2276c6499b9cebc0adc3d2e2f603c78f4d3bf66652","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-57a-8-114","next":"us-sd/sdcl-57a-8-116"},"notice":"GroundRules: Original legal text. Not legal advice."}