{"data":{"id":"us-mi/mich.-comp.-laws-440.8506","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.8506","heading":"Duty of securities intermediary to exercise rights with respect to financial asset; conditions.","body":"Sec. 8506.\n\nA securities intermediary shall exercise rights with respect to a financial asset if directed to do so by an entitlement holder. The duty is satisfied if the securities intermediary does either of the following:\n\nActs with respect to the duty as agreed upon by the entitlement holder and the securities intermediary.\n\nIn the absence of agreement, 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":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-8506","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"286fe5b64da83acb07104f92c65633acbfd5fb0383542e7dd578d9c976191f98","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.8505","next":"us-mi/mich.-comp.-laws-440.8507"},"notice":"GroundRules: Original legal text. Not legal advice."}