{"data":{"id":"us-dc/d.c.-code-28-8-506","jurisdiction":"us-dc","citation":"D.C. Code § 28:8-506","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\n(1)\nThe securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or\n\n(2)\nIn 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 28. Commercial Instruments and Transactions. [Enacted title]","Subtitle I. Uniform Commercial Code.","Article 8. Investment Securities.","Part V. Security Entitlements."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/28:8-506","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"900d2dae8c5e7db2eea879876287f7a365a29e43b8a8a6f123d2487bab9c2aba","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-28-8-505","next":"us-dc/d.c.-code-28-8-507"},"notice":"GroundRules: Original legal text. Not legal advice."}