Nevada § 104.8506 Duty of securities intermediary to exercise rights as directed by entitlement holder

Nevada Statutes

§ 104.8506 — Duty of securities intermediary to exercise rights as directed by entitlement holder

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

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

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

Nevada § 104.8506 (Duty of securities intermediary to exercise rights as directed by entitlement holder) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.