{"data":{"id":"us-ak/as-45.08.505","jurisdiction":"us-ak","citation":"AS 45.08.505","heading":"Duty of securities intermediary with respect to payments and distributions.","body":"(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\n(1) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or\n(2) 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.\n(b) A securities intermediary is obligated to the securities intermediary's 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.","path":["Title 45. Trade and Commerce.","Chapter 08. Investment Securities.","Article 5. Security Entitlements."],"source_url":"https://www.akleg.gov/basis/statutes.asp#45.08.505","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:44Z","sha256":"2bb5e3cbbc2cad1ef31368cfad020c37eb5380d33cdc42c6d8932bbcd0ef8822","source_id":"us-ak","stale":false,"prev":"us-ak/as-45.08.504","next":"us-ak/as-45.08.506"},"notice":"GroundRules: Original legal text. Not legal advice."}