{"data":{"id":"us-ct/conn.-gen.-stat.-42a-8-505","jurisdiction":"us-ct","citation":"Conn. Gen. Stat. § 42a-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 42a. UNIFORM COMMERCIAL CODE","ARTICLE 8*. INVESTMENT SECURITIES","PART 5. SECURITY ENTITLEMENTS"],"source_url":"https://www.cga.ct.gov/current/pub/art_008.htm#sec_42a-8-505","current_through":"Revised to January 1, 2026 (2026 Supplement to the General Statutes of Connecticut, applied over the base revision of January 1, 2025)","vintage":"","retrieved_at":"2026-09-06T19:07:15Z","sha256":"69d0c4e3bb74703fdcaccfc1713a0ae5b2e76ec0e9784c48bc920a1514c74ec7","source_id":"us-ct","stale":false,"prev":"us-ct/conn.-gen.-stat.-42a-8-504","next":"us-ct/conn.-gen.-stat.-42a-8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}