The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 8-115)
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§ 8—115. 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 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:
(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. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)