{"data":{"id":"us-mt/30-8-505","jurisdiction":"us-mt","citation":"30-8-505","heading":"Duty of securities intermediary with respect to payments and distributions.","body":"(1) 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(a) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or\n(b) 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(2) 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":["TITLE 30. TRADE AND COMMERCE","CHAPTER 8. UNIFORM COMMERCIAL CODE INVESTMENT SECURITIES","Part 5. Security Entitlements"],"source_url":"https://mca.legmt.gov/bills/mca/title_0300/chapter_0080/part_0050/section_0050/0300-0080-0050-0050.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:51:03Z","sha256":"26b92d12a354ae58967cac087cbad90f1e958ccbe561aa737a57f391b2d77fcd","source_id":"us-mt","stale":false,"prev":"us-mt/30-8-504","next":"us-mt/30-8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}