{"data":{"id":"us-ma/mass.-gen.-laws-ch.-106-8-505","jurisdiction":"us-ma","citation":"Mass. Gen. Laws ch. 106, § 8-505","heading":"Duty of Securities Intermediary with Respect to Payments and Distributions","body":"Section 8–505. (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":["Part I","Title XV","Chapter 106","Article 8"],"source_url":"https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXV/Chapter106/Section8-505","current_through":"amendments passed before May 31, 2026","vintage":"","retrieved_at":"2026-09-17T05:22:29Z","sha256":"dccfd7d2150aac62a81324b875fa5c1585ebd1db15353d4d34423b30b6b5aea9","source_id":"us-ma","stale":false,"prev":"us-ma/mass.-gen.-laws-ch.-106-8-504","next":"us-ma/mass.-gen.-laws-ch.-106-8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}