554.8115 Securities intermediary and others not liable to adverse claimant. 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 atthe direction of its customer or principal, is not liable to a person having an adverse claim tothe financial asset, unless the securities intermediary, or 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 hada reasonable opportunity to act on the injunction, restraining order, or other legal process; or 2. acted in collusion with the wrongdoer in violating the rights of the adverse claimant; or3. in the case of a security certificate that has been stolen, acted with notice of the adverse claim. 96 Acts, ch 1138, §23, 84 Sat Dec 23 01:58:13 2023 Iowa Code 2024, Section 554.8115 (24, 0)
Iowa Legal Code