{"data":{"id":"us-ia/iowa-code-554.8505","jurisdiction":"us-ia","citation":"Iowa Code § 554.8505","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:\na. the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or\nb. 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.\n2. 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 XIII - COMMERCE (Ch. 505 - 554I)","Chapter 554 - UNIFORM COMMERCIAL CODE","Article 8 - INVESTMENT SECURITIES","Part 5 - SECURITY ENTITLEMENTS"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/554.8505.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:15Z","sha256":"2942fc39b48c2c17442ebcd747c41d8a911929a4b810c75b491ddd6f38886b85","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-554.8504","next":"us-ia/iowa-code-554.8506"},"notice":"GroundRules: Original legal text. Not legal advice."}