{"data":{"id":"us-md/md.-code-commercial-law-8-505","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 8–505","heading":"","body":"(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":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=8-505","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"69d0c4e3bb74703fdcaccfc1713a0ae5b2e76ec0e9784c48bc920a1514c74ec7","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-8-504","next":"us-md/md.-code-commercial-law-8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}