Iowa Statutes
§ 554.8505 — Duty of securities intermediary with respect to payments and distributions
Iowa § 554.8505
This text of Iowa § 554.8505 (Duty of securities intermediary with respect to payments and distributions) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Iowa Code § 554.8505 (2026).
Text
1.A securities intermediary shall take action to obtain a payment or distribution made by
the issuer of a financial asset. 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 exercises due care in
accordance with reasonable commercial standards to attempt to obtain the payment or
distribution.
2.A securities intermediary is obligated to its entitlement holder for a payment or
distribution made by the issuer of a financial asset if the payment or distribution is received
by the securities intermediary.
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Nearby Sections
15
§ 554.10101
Effective date§ 554.10103
General repealer§ 554.10104
Laws not repealed§ 554.1101
Short titles§ 554.1102
Scope of Article§ 554.1104
Construction against implied repeal§ 554.1105
Severability§ 554.1106
Use of singular and plural — gender§ 554.1107
Section captions§ 554.1110
Rules for filing and indexing§ 554.11101
Effective date§ 554.11102
Preservation of old transition provisionCite This Page — Counsel Stack
Bluebook (online)
Iowa § 554.8505, Counsel Stack Legal Research, https://law.counselstack.com/statute/ia/554.8505.