One Click Case Law for § 11-8-506
O.C.G.A. § 11-8-505 <-- --> O.C.G.A. §11-8-507

2010 Georgia Code

TITLE 11 - COMMERCIAL CODE
ARTICLE 8 - INVESTMENT SECURITIES
PART 5 - SECURITY ENTITLEMENTS
§ 11-8-506 - Duty of securities intermediary to exercise rights as directed by entitlement holder

O.C.G.A. 11-8-506 (2010)
11-8-506. 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 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.