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 8.501 for value and without notice of the adverse claim.
Tex. Bus. & Com. Code § 8.502
ASSERTION OF ADVERSE CLAIM AGAINST ENTITLEMENT HOLDER
Known as the Uniform Commercial Code
The act spans §§ 1–12 (616 sections).
Added by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.