---
title: O.C.G.A. § 11-8-115. Securities intermediary and others not liable to adverse claimant.
collection: code
id: 11-8-115
cite_as: O.C.G.A. § 11-8-115 (2025)
canonical_url: https://georgiacommons.org/code/11-8-115
md_url: https://georgiacommons.org/code/11-8-115.md
text_url: https://georgiacommons.org/code/11-8-115/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-2022-pdf.pdf?sfvrsn=b5451bbd_0#page=670
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCIAL CODE / INVESTMENT SECURITIES / SHORT TITLE AND GENERAL MATTERS
---

# O.C.G.A. § 11-8-115. 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.

## History

Code 1981, § 11-8-115, enacted by Ga. L. 1998, p. 1323, § 1.