Ohio Rev. Code § 1308.56: Duty of securities intermediary to exercise rights as directed by entitlement holder - UCC 8-506.
Where this section sits in the code
- Title 13 Commercial Transactions
- Chapter 1308 Investment Securities
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:
(A) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or
(B) 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.
Collected 2026-09-14T19:24:29Z. Source file · JSON