{"data":{"id":"us-me/11-m.r.s.-8-1506","jurisdiction":"us-me","citation":"11 M.R.S. §8-1506","heading":"Duty of securities intermediary to exercise rights as directed by entitlement holder","body":"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":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 5: SECURITY ENTITLEMENTS"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec8-1506.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"4c36b951cba16f6e7e4bbb00b22c29dd18eb43308033be26eaf19f430ea31284","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-8-1505","next":"us-me/11-m.r.s.-8-1507"},"notice":"GroundRules: Original legal text. Not legal advice."}