RCW 62A.8-506
108 words·~1 min read·
/wa/title-62a/chapter-62a-8/62a-8-506·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.
[ 1995 c 48 s 46 .]
Notes:
Effective date — 1995 c 48: See RCW 62A.11-113 .