Section 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; or

(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.