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:
(1) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or
(2) 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.
Section: Previous 11-8-501 11-8-502 11-8-503 11-8-504 11-8-505 11-8-506 11-8-507 11-8-508 11-8-509 11-8-510 11-8-511 NextLast modified: October 14, 2016