{"data":{"id":"us-nc/n.c.-gen.-stat.-25-8-506","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-8-506","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)\tThe securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or\n(2)\tIn 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. (1997-181, s. 1.)","path":["Chapter 25. Uniform Commercial Code.","Article 8. Investment Securities.","Part 5. Security Entitlements."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-8-506.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"3ffbde07b48969e5aa20323e7ba9e6e55ee885a872bf1956c98cec6cc5fdb814","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-8-505","next":"us-nc/n.c.-gen.-stat.-25-8-507"},"notice":"GroundRules: Original legal text. Not legal advice."}