Wyoming § 34.1-8-510 Rights of purchaser of security entitlement
from entitlement holder

Wyoming Statutes

§ 34.1-8-510 — Rights of purchaser of security entitlement from entitlement holder

Wyoming·Title 34.1 Uniform Commercial Code·Art. 8 INVESTMENT SECURITIES

(a)In a case not covered by the priority rules in article 9 or the rules stated in subsection (c), an action based on an adverse claim to a financial asset or security entitlement, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who purchases a security entitlement, or an interest therein, from an entitlement holder if the purchaser gives value, does not have notice of the adverse claim, and obtains control.

(b)If an adverse claim could not have been asserted against an entitlement holder under W.S. 34.1-8-502, the adverse claim cannot be asserted against a person who purchases a security entitlement, or an interest therein, from the entitlement holder.

(c)In a case not covered by the priority rules in art

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(a) In a case not covered by the priority rules in article
9 or the rules stated in subsection (c), an action based on an
adverse claim to a financial asset or security entitlement,
whether framed in conversion, replevin, constructive trust,
equitable lien, or other theory, may not be asserted against a
person who purchases a security entitlement, or an interest
therein, from an entitlement holder if the purchaser gives
value, does not have notice of the adverse claim, and obtains
control.
(b) If an adverse claim could not have been asserted
against an entitlement holder under W.S. 34.1-8-502, the adverse
claim cannot be asserted against a person who purchases a
security entitlement, or an interest therein, from the
entitlement holder.
(c) In a case not covered by the priority rules in article
9, a purchaser for value of a security entitlement, or an
interest therein, who obtains control has priority over a
purchaser of a security entitlement, or an interest therein, who
does not obtain control. Except as otherwise provided in
subsection (d), purchasers who have control rank according to
priority in time of:
(i) The purchaser's becoming the person for whom the
securities account, in which the security entitlement is
carried, is maintained, if the purchaser obtained control under
section 34.1-8-106(d)(i);
(ii) The securities intermediary's agreement to
comply with the purchaser's entitlement orders with respect to
security entitlements carried or to be carried in the securities
account in which the security entitlement is carried, if the
purchaser obtained control under section 34.1-8-106(d)(ii); or
(iii) If the purchaser obtained control through
another person under section 34.1-8-106(d)(iii), the time on
which priority would be based under this subsection if the other
person were the secured party.
(d) A securities intermediary as purchaser has priority
over a conflicting purchaser who has control unless otherwise
agreed by the securities intermediary.

Wyoming § 34.1-8-510 (Rights of purchaser of security entitlement from entitlement holder) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.