{"data":{"id":"us-ky/krs-355.8-509","jurisdiction":"us-ky","citation":"KRS 355.8-509","heading":"Specification of duties of securities intermediary by other statute or","body":"regulation -- Manner of performance of duties of securities intermediary and\nexercise of rights of entitlement holder.\n(1) If the substance of a duty imposed upon a securities intermediary by KRS 355.8-504\nto 355.8-508 is the subject of other statute, regulation, or rule, compliance with that\nstatute, regulation, or rule satisfies the duty.\n(2) To the extent that specific standards for the performance of the duties of a securities\nintermediary or the exercise of the rights of an entitlement holder are not specified\nby other statute, regulation, or rule or by agreement between the securities\nintermediary and entitlement holder, the securities intermediary shall perform its\nduties an d the entitlement holder shall exercise its rights in a commercially\nreasonable manner.\n(3) The obligation of a securities intermediary to perform the duties imposed by KRS\n355.8-504 to 355.8-508 is subject to:\n(a) Rights of the securities intermediary ari sing out of a security interest under a\nsecurity agreement with the entitlement holder or otherwise; and\n(b) Rights of the securities intermediary under other law, regulation, rule, or\nagreement to withhold performance of its duties as a result of unfulfil led\nobligations of the entitlement holder to the securities intermediary.\n(4) KRS 355.8 -504 to 355.8 -508 do not require a securities intermediary to take any\naction that is prohibited by other statute, regulation, or rule.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33725","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:47Z","sha256":"f5208698e039a8043cb9337c6de5714a2e97dc233a9c5a310d6ab2c5459ab03d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.8-508","next":"us-ky/krs-355.8-510"},"notice":"GroundRules: Original legal text. Not legal advice."}