{"data":{"id":"us-ky/krs-355.8-505","jurisdiction":"us-ky","citation":"KRS 355.8-505","heading":"Duty of securities intermediary with respect to payments and","body":"distributions.\n(1) A securities intermediary shall take action to obtain a payment or distribution made\nby 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\nentitlement holder and the securities intermediary; or\n(b) In the absence of agreement, the securities intermediary exercises due care in\naccordance with reasonable commer cial standards to attempt to obtain the\npayment or distribution.\n(2) A securities intermediary is obligated to its entitlement holder for a payment or\ndistribution made by the issuer of a financial asset if the payment or distribution is\nreceived by the securities intermediary.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33721","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:47Z","sha256":"70b9164200eb6a1f92e61a5f1169e76b6d669cef68765e9daa224ace16a64769","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.8-504","next":"us-ky/krs-355.8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}