- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 8. Investment Securities
- Section 506. Duty of Securities Intermediary to Exercise Rights as Directed By Entitlement Holder.
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. Duty of Securities Intermediary With Respect to Payments and Distributions.
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. Duty of Securities Intermediary to Comply With Entitlement Order.
AS 45.08.506. 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 by an entitlement holder
to exercise the rights. 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
- (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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