New Jersey § 12a:8-509
Full text of New Jersey New Jersey Statutes § 12a:8-509, with citation guidance and answers to common questions.
§ 12a:8-509.
a. If the substance of a duty imposed upon a securities intermediary by 12A:8-504
through 12A:8-508 is the subject of other statute, regulation, or rule, compliance
with that statute, regulation, or rule satisfies the duty. b. To the extent that specific standards for the performance of the duties of a securities
intermediary or the exercise of the rights of an entitlement holder are not specified
by other statute, regulation, or rule or by agreement between the securities intermediary
and entitlement holder, the securities intermediary shall perform its duties and the
entitlement holder shall exercise its rights in a commercially reasonable manner. c. The obligation of a securities intermediary to perform the duties imposed by 12A:8-504
through 12A:8-508 is subject to: (1) rights of the securities intermediary arising out of a security interest under
a security agreement with the entitlement holder or otherwise; and (2) rights of the securities intermediary under other law, regulation, rule, or agreement
to withhold performance of its duties as a result of unfulfilled obligations of the
entitlement holder to the securities intermediary. d. The provisions of 12A:8-504 through 12A:8-508 do not require a securities intermediary
to take any action that is prohibited by other statute, regulation, or rule.
Frequently Asked Questions About New Jersey § 12a:8-509
What does New Jersey Statutes § 12a:8-509 cover?
Section 12a:8-509 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:8-509?
A common citation format is "New Jersey Statutes § 12a:8-509" (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:8-509 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.