North Dakota § 41-08-46 (8-506) Duty of securities intermediary to exercise rights as directed by entitlement holder

North Dakota Statutes

§ 41-08-46 — (8-506) Duty of securities intermediary to exercise rights as directed by entitlement holder

North Dakota·Title 41 Uniform Commercial Code·Ch. 41-08 Investment Securities

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.

North Dakota § 41-08-46 ((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.