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 G.S. 25-8-501 for value and without notice of the adverse claim.
N.C. Gen. Stat. § 25-8-502
Assertion of adverse claim against entitlement holder
Known as the Uniform Commercial Code
The act spans §§ 25–25 (616 sections).
1997-181, s. 1.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.