{"data":{"id":"us-oh/ohio-rev.-code-1308.55","jurisdiction":"us-oh","citation":"Ohio Rev. Code § 1308.55","heading":"Duty of securities intermediary with respect to payments and distributions - UCC 8-505.","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":["Title 13 Commercial Transactions","Chapter 1308 Investment Securities"],"source_url":"https://codes.ohio.gov/ohio-revised-code/section-1308.55","current_through":"1998-01-01 (House Bill 170 - 122nd General Assembly)","vintage":"","retrieved_at":"2026-09-14T19:24:29Z","sha256":"6b9c3535bfc74597e8e8ebe2608f35f76b046684e43cd1d9e468e1620c33235e","source_id":"us-oh","stale":false,"prev":"us-oh/ohio-rev.-code-1308.54","next":"us-oh/ohio-rev.-code-1308.56"},"notice":"GroundRules: Original legal text. Not legal advice."}