{"data":{"id":"us-fl/fla.-stat.-678.5051","jurisdiction":"us-fl","citation":"Fla. Stat. § 678.5051","heading":"Duty of securities intermediary with respect to payments and distributions.","body":"(1) 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(a) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or\n(b) 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(2) 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.\nHistory.—s. 5, ch. 98-11.","path":["CHAPTER 678 UNIFORM COMMERCIAL CODE: INVESTMENT SECURITIES"],"source_url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute\u0026URL=0600-0699/0678/0678.html","current_through":"2026 Florida Statutes","vintage":"","retrieved_at":"2026-08-27T02:11:55Z","sha256":"fddbd71f080d97f84e338e116a08f42120cfa3ef2e6d685dc7a1d8ad5b8325f0","source_id":"us-fl","stale":false,"prev":"us-fl/fla.-stat.-678.5041","next":"us-fl/fla.-stat.-678.5061"},"notice":"GroundRules: Original legal text. Not legal advice."}