{"data":{"id":"us-wi/wis.-stat.-408.115","jurisdiction":"us-wi","citation":"Wis. Stat. § 408.115","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.","path":["Chs. 401-411, Uniform Commercial Code","Chapter 408 Uniform Commercial Code — Investment Securities","SUBCHAPTER I GENERAL MATTERS"],"source_url":"https://docs.legis.wisconsin.gov/document/statutes/408.115","current_through":"2023-24 Wisconsin Statutes updated through 2025 Wis. Act 247 (published 9-4-26)","vintage":"","retrieved_at":"2026-09-05T12:01:22Z","sha256":"3b0c1c3571f67edcd1b237af32ac7896966a458eb6a2c2589a225a26a52c43fa","source_id":"us-wi","stale":false,"prev":"us-wi/wis.-stat.-408.114","next":"us-wi/wis.-stat.-408.116"},"notice":"GroundRules: Original legal text. Not legal advice."}