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 70A-8-501 for value and without notice of the adverse claim.
Utah Code § 70A-8-502
Assertion of adverse claim against entitlement holder
Enacted by Chapter 204, 1996 General Session
Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.