{"data":{"id":"us-nj/n.j.-stat.-12a-9-304","jurisdiction":"us-nj","citation":"N.J. Stat. § 12A:9-304","heading":"Law governing perfection and priority of security interests in deposit accounts.","body":"Law Governing Perfection and Priority of Security Interests in Deposit Accounts.\n(a)\tLaw of bank's jurisdiction governs.  The local law of a bank's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank.\n(b)\tBank's jurisdiction.  The following rules determine a bank's jurisdiction for purposes of this part:\n(1)\tIf an agreement between the bank and its customer governing the deposit account expressly provides that a particular jurisdiction is the bank's jurisdiction for purposes of this part, this chapter, or the Uniform Commercial Code, that jurisdiction is the bank's jurisdiction.\n(2)\tIf paragraph (1) does not apply and an agreement between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the bank's jurisdiction.\n(3)\tIf neither paragraph (1) nor paragraph (2) applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction, that jurisdiction is the bank's jurisdiction.\n(4)\tIf none of the preceding paragraphs applies, the bank's jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customer's account is located.\n(5)\tIf none of the preceding paragraphs applies, the bank's jurisdiction is the jurisdiction in which the chief executive office of the bank is located.\nL.2001, c.117, s.1; amended 2001, c.386, s.20.","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":"66c538f4f302db507ff67da1c8519d3767592cf22548d16bfa23fc29f659d113","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-12a-9-303","next":"us-nj/n.j.-stat.-12a-9-305"},"notice":"GroundRules: Original legal text. Not legal advice."}