{"data":{"id":"us-nj/n.j.-stat.-12a-8-508","jurisdiction":"us-nj","citation":"N.J. Stat. § 12A:8-508","heading":"Duty of Securities Intermediary to Change Entitlement Holder's Position to Other Form of Security Holding.","body":"A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which the entitlement holder is eligible, or to cause the financial asset to be transferred to a securities account of the entitlement holder with another securities intermediary.  A securities intermediary satisfies the duty if:\na.  the securities intermediary acts as agreed upon by the entitlement holder and the securities intermediary; or\nb.  in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.\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":"a7871068dfb3fac4bf1eec32e3f0c8d7887509932c766bf0d15a56bb938c966a","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-12a-8-507","next":"us-nj/n.j.-stat.-12a-8-509"},"notice":"GroundRules: Original legal text. Not legal advice."}