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Texas Business & Commerce Code

§ 8.502 — ASSERTION OF ADVERSE CLAIM AGAINST ENTITLEMENT HOLDER

BC § 8.502Title 1. UNIFORM COMMERCIAL CODE · Ch. 8. INVESTMENT SECURITIES · Art. E. SECURITY ENTITLEMENTS

Statute text

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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.

Legislative history

Added by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.

Source: Texas Business & Commerce Code § 8.502 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.