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Wyoming · Through 2026 Budget Session; as of 2026-07-01

Wyo. Stat. § 34.1-8-505: Duty of securities intermediary with respect to payments and distributions.

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Where this section sits in the code
  1. TITLE 34.1 - UNIFORM COMMERCIAL CODE
  2. ARTICLE 8 - INVESTMENT SECURITIES
  3. PART 5 SECURITY ENTITLEMENTS

(a) A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities intermediary satisfies the duty if:

(i) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or

(ii) In the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to attempt to obtain the payment or distribution.

(b) A securities intermediary is obligated to its entitlement holder for a payment or distribution made by the issuer of a financial asset if the payment or distribution is received by the securities intermediary.

Collected 2026-09-04T00:16:32Z. Source file · JSON

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