Nevada § 104.8505 Duty of securities intermediary with respect to payments and distributions

Nevada Statutes

§ 104.8505 — Duty of securities intermediary with respect to payments and distributions

Nevada·Title 8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS·Ch. 104 Uniform· Security Entitlements

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)It acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or

(b)In the absence of agreement, it 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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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) It acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or
(b) In the absence of agreement, it 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.

Nevada § 104.8505 (Duty of securities intermediary with respect to payments and distributions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.