Title 11, Chapter 8, Section 112
( 11-8-112)
Creditor's legal process. (a) The interest of a debtor in a certificated security may be
reached by a creditor only by actual seizure of the security
certificate by the officer making the attachment or levy, except as
otherwise provided in subsection (d) of this Code section. However,
a certificated security for which the certificate has been
surrendered to the issuer may be reached by a creditor by legal
process upon the issuer. (b) The interest of a debtor in an uncertificated security may be
reached by a creditor only by legal process upon the issuer at its
chief executive office in the United States, except as otherwise
provided in subsection (d) of this Code section. (c) The interest of a debtor in a security entitlement may be
reached by a creditor only by legal process upon the securities
intermediary with whom the debtor's securities account is
maintained, except as otherwise provided in subsection (d) of this
Code section. (d) The interest of a debtor in a certificated security for which
the certificate is in the possession of a secured party, or in an
uncertificated security registered in the name of a secured party,
or a security entitlement maintained in the name of a secured party,
may be reached by a creditor by legal process upon the secured
party. (e) A creditor whose debtor is the owner of a certificated security,
uncertificated security, or security entitlement is entitled to aid
from a court of competent jurisdiction, by injunction or otherwise,
in reaching the certificated security, uncertificated security, or
security entitlement or in satisfying the claim by means allowed at
law or in equity in regard to property that cannot readily be
reached by other legal process. |