{"data":{"id":"us-nj/n.j.-stat.-12a-8-115","jurisdiction":"us-nj","citation":"N.J. Stat. § 12A:8-115","heading":"Securities Intermediary and Others Not Liable to Adverse Claimant.","body":"A securities intermediary that has transferred a financial asset pursuant to an effective entitlement order, or a broker or other agent or bailee that has dealt with a financial asset at the direction of its customer or principal, is not liable to a person having an adverse claim to the financial asset, unless the securities intermediary, or broker or other agent or bailee:\n(1) took the action after it had been served with an injunction, restraining order, or other legal process enjoining it from doing so, issued by a court of competent jurisdiction, and had a reasonable opportunity to act on the injunction, restraining order, or other legal process; or\n(2) acted in collusion with the wrongdoer in violating the rights of the adverse claimant; or\n(3) in the case of a security certificate that has been stolen, acted with notice of the adverse claim.\nL.1997,c.252,s.1.","path":["TITLE 12A COMMERCIAL TRANSACTIONS"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"26a43309e52e49ffdd82ad78feb1087574352cf9512e7f5061fe6cf39cfe7bdd","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-12a-8-114","next":"us-nj/n.j.-stat.-12a-8-116"},"notice":"GroundRules: Original legal text. Not legal advice."}