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 8501 for value and without notice of the adverse claim.
Cal. Com. Code § 8502
Security Entitlements
Known as the Uniform Commercial Code
The act spans §§ 1101–12107 (623 sections).
Applied in 3 court decisions — leading case In Re County of Orange (1997)
Most recently applied in 491 F. App'x 793 - Chase Investment Services Corp. v. Law Offices of Jon Divens & Associates, LLC (August 2012)
Added by Stats. 1996, Ch. 497, Sec. 9
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.