{"data":{"id":"us-tx/tex.-business-commerce-code-8.115","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 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;\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.\nAdded by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.","path":["BUSINESS AND COMMERCE CODE","TITLE 1. UNIFORM COMMERCIAL CODE","CHAPTER 8. INVESTMENT SECURITIES","SUBCHAPTER A. SHORT TITLE AND GENERAL MATTERS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.8.htm#8.115","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"4dad33b55b21f437a9e481b2e6df210f5562ac7b7b567059869b0a2a7e301e7c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-8.114","next":"us-tx/tex.-business-commerce-code-8.116"},"notice":"GroundRules: Original legal text. Not legal advice."}