Connecticut General Statutes Title 42A. Uniform Commercial Code § 42a-8-506 § 42a-8-506. Duty of securities intermediary to exercise rights as directed by entitlement holder
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Search Connecticut General Statutes
Search by Keyword or Citation
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.
Cite this article: FindLaw.com - Connecticut General Statutes Title 42A. Uniform Commercial Code § 42a-8-506 § 42a-8-506. Duty of securities intermediary to exercise rights as directed by entitlement holder - last updated June 28, 2021 | https://codes.findlaw.com/ct/title-42a-uniform-commercial-code/ct-gen-st-sect-42a-8-506/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?