{"data":{"id":"us-mn/minn.-stat.-336.8-505","jurisdiction":"us-mn","citation":"Minn. Stat. § 336.8-505","heading":"DUTY OF SECURITIES INTERMEDIARY WITH RESPECT TO PAYMENTS AND DISTRIBUTIONS.","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":["TRADE REGULATIONS, CONSUMER PROTECTION","CHAPTER 336. UNIFORM COMMERCIAL CODE","Revised Article 8 INVESTMENT SECURITIES","Part 5 SECURITY ENTITLEMENTS"],"source_url":"https://www.revisor.mn.gov/statutes/cite/336.8-505","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:43Z","sha256":"d7eef9ad3661f88b434090bb18d1122ea2f716bb496569950138b042395f9dd5","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-336.8-504","next":"us-mn/minn.-stat.-336.8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}