New Jersey Statutes
§ 12A:8-115 — Securities Intermediary and Others Not Liable to Adverse Claimant.
New Jersey·Title 12A COMMERCIAL TRANSACTIONS
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 th
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New Jersey § 12A:8-115 (Securities Intermediary and Others Not Liable to Adverse Claimant.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 12A:8-101
Short Title.§ 12A:8-102
Definitions.§ 12A:8-103
Rule for determining whether certain obligations and interests are securities or financial assets.§ 12A:8-105. Notice of Adverse Claim.
§ 12A:8-105. Notice of Adverse Claim.§ 12A:8-106
Control§ 12A:8-108. Warranties in Direct Holding.
§ 12A:8-108. Warranties in Direct Holding.§ 12A:8-109
Warranties in Indirect Holding.§ 12A:8-110
Applicability; choice of law.§ 12A:8-111
Clearing Corporation Rules.§ 12A:8-112. Creditor's Legal Process.
§ 12A:8-112. Creditor's Legal Process.§ 12A:8-113
Statute of Frauds Inapplicable.