New Jersey Statutes
§ 12A:8-508 — Duty of Securities Intermediary to Change Entitlement Holder's Position to Other Form of Security Holding.
New Jersey·Title 12A COMMERCIAL TRANSACTIONS
A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which the entitlement holder is eligible, or to cause the financial asset to be transferred to a securities account of the entitlement holder with another securities intermediary. A securities intermediary satisfies the duty if: a. the securities intermediary acts as agreed upon by the entitlement holder and the securities intermediary; or b. in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder. L.1997,c.252,s.1.
Free access — add to your briefcase to read the full text and ask questions with AI
New Jersey § 12A:8-508 (Duty of Securities Intermediary to Change Entitlement Holder's Position to Other Form of Security Holding.) — 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.