Montana § 30-8-506 Duty Of Securities Intermediary To Exercise Rights As Directed By Entitlement Holder

Montana Statutes

§ 30-8-506 — Duty Of Securities Intermediary To Exercise Rights As Directed By Entitlement Holder

Montana·Title 30 TRADE AND COMMERCE·Ch. 8 UNIFORM COMMERCIAL CODE INVESTMENT SECURITIES·Part 5 Security Entitlements

30-8-506 . Duty of securities intermediary to exercise rights as directed by entitlement holder. 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.

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30-8-506 . Duty of securities intermediary to exercise rights as directed by entitlement holder. 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.

Montana § 30-8-506 (Duty Of Securities Intermediary To Exercise Rights As Directed By Entitlement Holder) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.