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2012 Statute



Prev Article 8. - INVESTMENT SECURITIESNext


84-8-506.Duty of securities intermediary to exercise rights as directed by entitlement holder. A securities intermediary shall exercise rights with respect to a financial asset if directed to do so by an entitlement holder.  A securities intermediary satisfies the duty if:

(a) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or

(b) in the absence of agreement, the securities intermediary either places the entitlement holder in a position to exercise the rights directly or exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.

History: L. 1996, ch. 202, § 73; July 1.



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2014. Powered by KLISS. Rendered: 2014-07-22T06:22:44. Head Rev No: 351364