Nev. Rev. Stat. § 104.8506
Duty of securities intermediary to exercise rights as directed by entitlement holder
Nevada · Nevada Revised Statutes Chapter 104 — Uniform Commercial Code—Original Articles · Status: effective
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- Citation
- Nev. Rev. Stat. § 104.8506, Duty of securities intermediary to exercise rights as directed by entitlement holder, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2079580
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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. 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.