{"data":{"id":"us-ga/o.c.g.a.-11-8-505","jurisdiction":"us-ga","citation":"O.C.G.A. § 11-8-505","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 11 Commercial Code","Article 8 Investment Securities","PART 5 Security Entitlements"],"source_url":"https://archive.org/download/gov.ga.ocga.2018/release86.2022.11/gov.ga.ocga.title.11.odt","current_through":"Release 86 (2022-11)","vintage":"Public.Resource.Org bulk O.C.G.A., Release 86 (2022-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T19:34:57Z","sha256":"69d0c4e3bb74703fdcaccfc1713a0ae5b2e76ec0e9784c48bc920a1514c74ec7","source_id":"us-ga","stale":false,"prev":"us-ga/o.c.g.a.-11-8-504","next":"us-ga/o.c.g.a.-11-8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}