Indiana Statutes
§ 26-1-8.1-505 — Duty of securities intermediary to obtain and pay distributions on financial assets
Indiana § 26-1-8.1-505
This text of Indiana § 26-1-8.1-505 (Duty of securities intermediary to obtain and pay distributions on financial assets) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ind. Code § 26-1-8.1-505 (2026).
Text
(a)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:
(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
exercises due care in accordance with reasonable commercial
standards to attempt to obtain the payment or distribution.
(b)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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Legislative History
As added by P.L.247-1995, SEC.10.
Nearby Sections
15
§ 26-1-1-0.3
Certain security interests considered perfected§ 26-1-1-0.5
Status of certain security interests; conditions; lapsing of perfection;
filing of financing statements§ 26-1-1-101
Short title; application§ 26-1-1-104
Construction against implicit repeal§ 26-1-1-105
Repealed§ 26-1-1-106
Remedies to be liberally administered§ 26-1-1-108
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Bluebook (online)
Indiana § 26-1-8.1-505, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/26-1-8.1-505.