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 12A:8-501 for value and without notice of the adverse claim.
N.J. Stat. Ann. § 12A:8-502
Assertion of Adverse Claim Against Entitlement Holder
Known as the Uniform Commercial Code
The act spans §§ 12A:1-101 to 12A:9-809 (506 sections).
L.1997,c.252,s.1.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.