{"data":{"id":"us-ar/ark.-code-ann.-4-8-505","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-8-505","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 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.","path":["Title 4 Business and Commercial Law","Subtitle 1. Uniform Commercial Code","Chapter 8 Investment Securities","Part 5 — Security Entitlements"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T21:07:03Z","sha256":"d7eef9ad3661f88b434090bb18d1122ea2f716bb496569950138b042395f9dd5","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-8-504","next":"us-ar/ark.-code-ann.-4-8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}