Wyoming § 34.1-8-504 34.1-8-504. Duty of securities intermediary to maintain
financial asset

Wyoming Statutes

§ 34.1-8-504 — 34.1-8-504. Duty of securities intermediary to maintain financial asset

Wyoming § 34.1-8-504

Title 34.1Uniform Commercial Code

Art. 8INVESTMENT SECURITIES

This text of Wyoming § 34.1-8-504 (34.1-8-504. Duty of securities intermediary to maintain financial asset) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 34.1-8-504 (2026).

Text

(a)A securities intermediary shall promptly obtain and thereafter maintain a financial asset in a quantity corresponding to the aggregate of all security entitlements it has established in favor of its entitlement holders with respect to that financial asset. The securities intermediary may maintain those financial assets directly or through one (1) or more other securities intermediaries.

(b)Except to the extent otherwise agreed by its entitlement holder, a securities intermediary may not grant any security interests in a financial asset it is obligated to maintain pursuant to subsection (a) of this section.

(c)A securities intermediary satisfies the duty in subsection (a) of this section if:

(i)The securities intermediary acts with respect to the duty as agreed upon by the entitlemen

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

(a) A securities intermediary shall promptly obtain and
thereafter maintain a financial asset in a quantity
corresponding to the aggregate of all security entitlements it
has established in favor of its entitlement holders with respect
to that financial asset. The securities intermediary may
maintain those financial assets directly or through one (1) or
more other securities intermediaries.
(b) Except to the extent otherwise agreed by its
entitlement holder, a securities intermediary may not grant any
security interests in a financial asset it is obligated to
maintain pursuant to subsection (a) of this section.
(c) A securities intermediary satisfies the duty in
subsection (a) of this section if:
(i) The securities intermediary acts with respect to
the duty as agreed upon by the entitlement holder and the
securities intermediary; or
(ii) In the absence of agreement, the securities
intermediary exercises due care in accordance with reasonable
commercial standards to obtain and maintain the financial asset.
(d) This section does not apply to a clearing corporation
that is itself the obligor of an option or similar obligation to
which its entitlement holders have security entitlements.