{"data":{"id":"us-ak/as-45.08.506","jurisdiction":"us-ak","citation":"AS 45.08.506","heading":"Duty of securities intermediary to exercise rights as directed by entitlement holder.","body":"A securities intermediary shall exercise rights with respect to a financial asset if directed by an entitlement holder to exercise the rights. 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 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.","path":["Title 45. Trade and Commerce.","Chapter 08. Investment Securities.","Article 5. Security Entitlements."],"source_url":"https://www.akleg.gov/basis/statutes.asp#45.08.506","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:44Z","sha256":"8c68c811d7921a5aa96aa36943f6b4830505a3b0f8aa064e1af0c6045c6c610e","source_id":"us-ak","stale":false,"prev":"us-ak/as-45.08.505","next":"us-ak/as-45.08.507"},"notice":"GroundRules: Original legal text. Not legal advice."}