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 acquires a security entitlement under Section 36-8-501 for value and without notice of the adverse claim.

HISTORY: 2001 Act No. 67, Section 5. "Adverse claim" Section 8-102(a)(1) "Financial asset" Section 8-102(a)(9) "Notice of adverse claim" Section 8-105 "Security entitlement" Section 8-102(a)(17) "Value" Sections 1-201(44) & 8-116