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 8‑1501 for value and without notice of the adverse claim.
Me. Rev. Stat. tit. 11, § 8-1502
Assertion of adverse claim against entitlement holder
Known as the Uniform Commercial Code
The act spans §§ 2-101 to 9-1709 (548 sections).
PL 1997, c. 429, §B2 (NEW).
Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.