Minn. Stat. § 336.8-506
Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder
Minnesota · Minnesota Statutes Chapter 336 — Uniform Commercial Code · Status: effective
Cite this
- Citation
- Minn. Stat. § 336.8-506, Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder, Minnesota, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1728895
- Permanent ID
ys:prov:1728895@1- SHA-256
2683de90d5c1aff8284452b01a9b3a4b70f79030f549eb5b8d5f392f9af72b03
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
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.