{"data":{"id":"us-de/6-del.-c.-8-505","jurisdiction":"us-de","citation":"6 Del. C. § 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 6. Commerce and Trade","SUBTITLE I","Uniform Commercial Code","ARTICLE 8. Investment Securities","Part 5","Security Entitlements"],"source_url":"https://delcode.delaware.gov/title6/c008/sc05/index.html#8-505","current_through":"2026-08-10 (85 Del. Laws, c. 421, 424)","vintage":"","retrieved_at":"2026-09-05T23:02:06Z","sha256":"d7eef9ad3661f88b434090bb18d1122ea2f716bb496569950138b042395f9dd5","source_id":"us-de","stale":true,"prev":"us-de/6-del.-c.-8-504","next":"us-de/6-del.-c.-8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}