§ 357.15. How can a debtor's interest in a Security Entitlement be reached by creditors?
84 words·~1 min read·
/us/cfr/t31/s§ 357.15·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The interest of a debtor may be reached by creditors only by legal process upon the Securities Intermediary with whom the debtor's securities account is maintained. Exception: If a Security Entitlement is maintained in the name of a secured party, the debtor's interest may be reached by legal process upon the secured party.
(b)These regulations do not state whether a Federal Reserve Bank is required to honor an order or other notice of attachment in any particular case or class of cases.