Section 7-8-502 Assertion of adverse claim against entitlement holder. - Alabama Statutes

Section 7-8-502

Assertion of adverse claim against entitlement holder.

An action based on an adverse claim to a financial asset, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who acquired a security entitlement with respect to such financial asset under Section 7-8-501 for value and without notice of the adverse claim.

(Acts 1996, No. 96-742, p. 1241, §1.)