{"data":{"id":"us-al/ala.-code-7-8-506","jurisdiction":"us-al","citation":"Ala. Code § 7-8-506","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 to do so by an entitlement holder. 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 7 Commercial Code.","Article 8 Investment Securities.","Part 5 Security Entitlements."],"source_url":"https://alison.legislature.state.al.us/code-of-alabama?section=7-8-506","current_through":"Act 2026-611","vintage":"","retrieved_at":"2026-09-03T14:01:52Z","sha256":"d79bff8653de13d8e048e789a93f3625909444341f9383587fc408f58ce8de7e","source_id":"us-al","stale":false,"prev":"us-al/ala.-code-7-8-505","next":"us-al/ala.-code-7-8-507"},"notice":"GroundRules: Original legal text. Not legal advice."}