New Jersey § 12a:3-110

§ 12a:3-110.

a. The person to whom an instrument is initially payable is determined by the intent

of the person, whether or not authorized, signing as, or in the name or behalf of,

the issuer of the instrument. The instrument is payable to the person intended by the signer even if that person

is identified in the instrument by a name or other identification that is not that

of the intended person. If more than one person signs in the name or behalf of the issuer of an instrument

and all the signers do not intend the same person as payee, the instrument is payable

to any person intended by one or more of the signers. b. If the signature of the issuer of an instrument is made by automated means, such

as a check-writing machine, the payee of the instrument is determined by the intent

of the person who supplied the name or identification of the payee, whether or not

authorized to do so. c. A person to whom an instrument is payable may be identified in any way, including

by name, identifying number, office, or account number. For the purpose of determining the holder of an instrument, the following rules

apply: (1) If an instrument is payable to an account and the account is identified only by

number, the instrument is payable to the person to whom the account is payable. If an instrument is payable to an account identified by number and by the name of

a person, the instrument is payable to the named person, whether or not that person

is the owner of the account identified by number. (2) If an instrument is payable to: (a) a trust, an estate, or a person described as trustee or representative of a trust

or estate, the instrument is payable to the trustee, the representative, or a successor

of either, whether or not the beneficiary or estate is also named; (b) a person described as agent or similar representative of a named or identified

person, the instrument is payable to the represented person, the representative, or

a successor of the representative; (c) a fund or organization that is not a legal entity, the instrument is payable to

a representative of the members of the fund or organization; or (d) an office or to a person described as holding an office, the instrument is payable

to the named person, the incumbent of the office, or a successor to the incumbent. d. If an instrument is payable alternatively to two or more persons, it is payable

to any of them and may be negotiated, discharged, or enforced by any or all of them

in possession of the instrument. If an instrument is not payable alternatively to two or more persons, it is payable

to all of them and may be negotiated, discharged, or enforced only by all of them. If an instrument payable to two or more persons is ambiguous as to whether it is

payable to the persons alternatively, the instrument is payable to the persons alternatively.