Arizona § 47-8115 Securities intermediary and others not liable to adverse claimant

Arizona Statutes

§ 47-8115 — Securities intermediary and others not liable to adverse claimant

Arizona § 47-8115

Title 47Arizona Revised Statutes

Ch. 8INVESTMENT SECURITIES

Art. 1Short Title and General Matters

This text of Arizona § 47-8115 (Securities intermediary and others not liable to adverse claimant) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 47-8115 (2026).

Text

A securities intermediary that has transferred a financial asset pursuant to an effective entitlement order, or a broker or other agent or bailee that has dealt with a financial asset at the direction of its customer or principal, is not liable to a person having an adverse claim to the financial asset, unless the securities intermediary, broker or other agent or bailee:

1.Took the action after it had been served with an injunction, restraining order or other legal process enjoining it from doing so, issued by a court of competent jurisdiction, and had a reasonable opportunity to act on the injunction, restraining order or other legal process;

2.Acted in collusion with the wrongdoer in violating the rights of the adverse claimant; or

3.In the case of a security certificate that has b

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A securities intermediary that has transferred a financial asset pursuant to an effective entitlement order, or a broker or other agent or bailee that has dealt with a financial asset at the direction of its customer or principal, is not liable to a person having an adverse claim to the financial asset, unless the securities intermediary, broker or other agent or bailee:

1. Took the action after it had been served with an injunction, restraining order or other legal process enjoining it from doing so, issued by a court of competent jurisdiction, and had a reasonable opportunity to act on the injunction, restraining order or other legal process;

2. Acted in collusion with the wrongdoer in violating the rights of the adverse claimant; or

3. In the case of a security certificate that has been stolen, acted with notice of the adverse claim.