§ 34.1-8-115 — Securities intermediary and others not liable to adverse claimant

(a) 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, or broker or other
agent or bailee:
(i) 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; or
(ii) Acted in collusion with the wrongdoer in
violating the rights of the adverse claimant; or
(iii) In the case of a security certificate that has
been stolen, acted with notice of the adverse claim.