New Jersey Statutes
§ 12A:8-505. Duty of Securities Intermediary with Respect to Payments and Distributions.
New Jersey § 12A:8-505. Duty of Securities Intermediary with Respect to Payments and Distributions.
JurisdictionNew Jersey
Title 12ACOMMERCIAL TRANSACTIONS
This text of New Jersey § 12A:8-505. Duty of Securities Intermediary with Respect to Payments and Distributions. is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.J. Stat. Ann. § 12A:8-505. Duty of Securities Intermediary with Respect to Payments and Distributions. (2026).
Text
a. A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities intermediary satisfies the duty if:
(1)the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or (2) in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to attempt to obtain the payment or distribution. b. A securities intermediary is obligated to its entitlement holder for a payment or distribution made by the issuer of a financial asset if the payment or distribution is received by the securities intermediary. L.1997,c.252,s.1.
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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.Cite This Page — Counsel Stack
Bluebook (online)
New Jersey § 12A:8-505. Duty of Securities Intermediary with Respect to Payments and Distributions., Counsel Stack Legal Research, https://law.counselstack.com/statute/nj/12A/12A%3A8-505.%20Duty%20of%20Securities%20Intermediary%20with%20Respect%20to%20Payments%20and%20Distributions..