NRS104.8115. 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 at the direction of his or her customer or principal, is not liable to a person having an adverse claim to the financial asset, unless he or she:

      1.  Took the action after he or she had been served with an injunction, restraining order or other legal process enjoining him or her 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 had been stolen, acted with notice of the adverse claim.

      (Added to NRS by 1965, 885; A 1985, 106; 1997, 398)