New Jersey § 12a:8-501
Full text of New Jersey New Jersey Statutes § 12a:8-501, with citation guidance and answers to common questions.
§ 12a:8-501.
a. “ Securities account ” means an account to which a financial asset is or may be credited in accordance
with an agreement under which the person maintaining the account undertakes to treat
the person for whom the account is maintained as entitled to exercise the rights that
comprise the financial asset. b. Except as otherwise provided in subsections d. and e. of this section, a person
acquires a security entitlement if a securities intermediary: (1) indicates by book entry that a financial asset has been credited to the person's
securities account; (2) receives a financial asset from the person or acquires a financial asset for the
person and, in either case, accepts it for credit to the person's securities account;
or (3) becomes obligated under other law, regulation, or rule to credit a financial asset
to the person's securities account. c. If a condition of subsection b. of this section has been met, a person has a security
entitlement even though the securities intermediary does not itself hold the financial
asset. d. If a securities intermediary holds a financial asset for another person, and the
financial asset is registered in the name of, payable to the order of, or specially
indorsed to the other person, and has not been indorsed to the securities intermediary
or in blank, the other person is treated as holding the financial asset directly rather
than as having a security entitlement with respect to the financial asset. e. Issuance of a security is not establishment of a security entitlement.
Frequently Asked Questions About New Jersey § 12a:8-501
What does New Jersey Statutes § 12a:8-501 cover?
Section 12a:8-501 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 12a:8-501?
A common citation format is "New Jersey Statutes § 12a:8-501" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 12a:8-501 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.