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Current as of January 01, 2024 | Updated by FindLaw Staff
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 - Idaho Statutes Title 28. Commercial Transactions § 28-8-506. Duty of securities intermediary to exercise rights as directed by entitlement holder - last updated January 01, 2024 | https://codes.findlaw.com/id/title-28-commercial-transactions/id-st-sect-28-8-506/
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.
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