New Jersey § 12a:8-511
Full text of New Jersey New Jersey Statutes § 12a:8-511, with citation guidance and answers to common questions.
§ 12a:8-511.
a. Except as otherwise provided in subsections b. and c. of this section, if a securities
intermediary does not have sufficient interests in a particular financial asset to
satisfy both its obligations to entitlement holders who have security entitlements
to that financial asset and its obligation to a creditor of the securities intermediary
who has a security interest in that financial asset, the claims of entitlement holders,
other than the creditor, have priority over the claim of the creditor. b. A claim of a creditor of a securities intermediary who has a security interest
in a financial asset held by a securities intermediary has priority over claims of
the securities intermediary's entitlement holders who have security entitlements with
respect to that financial asset if the creditor has control over the financial asset. c. If a clearing corporation does not have sufficient financial assets to satisfy
both its obligations to entitlement holders who have security entitlements with respect
to a financial asset and its obligation to a creditor of the clearing corporation
who has a security interest in that financial asset, the claim of the creditor has
priority over the claims of entitlement holders.
Frequently Asked Questions About New Jersey § 12a:8-511
What does New Jersey Statutes § 12a:8-511 cover?
Section 12a:8-511 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:8-511?
A common citation format is "New Jersey Statutes § 12a:8-511" (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:8-511 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.