{"data":{"id":"us-dc/d.c.-code-28-8-509","jurisdiction":"us-dc","citation":"D.C. Code § 28:8-509","heading":"Specification of duties of securities intermediary by other statute or regulation; manner of performance of duties of securities intermediary and exercise of rights of entitlement holder.","body":"(a)\nIf the substance of a duty imposed upon a securities intermediary by §§ 28:8-504 through 28:8-508 is the subject of other statute, regulation, or rule, compliance with that statute, regulation, or rule satisfies the duty.\n\n(b)\nTo the extent that specific standards for the performance of the duties of a securities intermediary or the exercise of the rights of an entitlement holder are not specified by other statute, regulation, or rule or by agreement between the securities intermediary and entitlement holder, the securities intermediary shall perform its duties and the entitlement holder shall exercise its rights in a commercially reasonable manner.\n\n(c)\nThe obligation of a securities intermediary to perform the duties imposed by §§ 28:8-504 through 28:8-508 is subject to:\n(1)\nRights of the securities intermediary arising out of a security interest under a security agreement with the entitlement holder or otherwise; and\n(2)\nRights of the securities intermediary under other law, regulation, rule, or agreement to withhold performance of its duties as a result of unfulfilled obligations of the entitlement holder to the securities intermediary.\n\n(d)\nSections 28:8-504 through 28:8-508 do not require a securities intermediary to take any action that is prohibited by other statute, regulation, or rule.","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/28:8-509","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"6100a77efbb416fd90c2caa08790360237b755cf9a515be848cbb29836e52d57","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-28-8-508","next":"us-dc/d.c.-code-28-8-510"},"notice":"GroundRules: Original legal text. Not legal advice."}