{"data":{"id":"us-il/810-ilcs-5-8-506","jurisdiction":"us-il","citation":"810 ILCS 5/8-506","heading":"","body":"Duty of securities intermediary to exercise rights as directed by entitlement holder. A securities intermediary shall exercise rights with respect to a financial asset if directed to do so by an entitlement holder. 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 either places the entitlement holder in a position to exercise the rights directly or exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.","path":["CHAPTER 810 COMMERCIAL CODE","Uniform Commercial Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=2301\u0026ChapterID=66\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"0db7cb3eb776cbb4d31150871d0b41264f9419342bf6d115fafbd3a5435dd23b","source_id":"us-il","stale":false,"prev":"us-il/810-ilcs-5-8-505","next":"us-il/810-ilcs-5-8-507"},"notice":"GroundRules: Original legal text. Not legal advice."}