2006 Minnesota Statutes

336.8-112 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). 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).
(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).
(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.
History: 1995 c 194 art 1 s 12