{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-8-505","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-8-505","heading":"Duty of Securities Intermediary with Respect to","body":"Payments and Distributions.\n\nDuty of Securities Intermediary with Respect to Payments and\n\nDistributions.\n\n(a) A securities intermediary shall take action to obtain a\n\npayment or distribution made by the issuer of a financial asset. A\n\nsecurities intermediary satisfies the duty if:\n\n(1) the securities intermediary acts with respect to the\n\nduty as agreed upon by the entitlement holder and the\n\nsecurities intermediary; or\n\n(2) in the absence of agreement, the securities\n\nintermediary exercises due care in accordance with\n\nreasonable commercial standards to attempt to obtain\n\nthe payment or distribution.\n\n(b) A securities intermediary is obligated to its entitlement\n\nholder for a payment or distribution made by the issuer of a\n\nfinancial asset if the payment or distribution is received by the\n\nsecurities intermediary.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"dc534fce9df6092db65240d6cd7be3a3fc3f5486af877448361c90d669c66384","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-8-504","next":"us-ok/okla.-stat.-tit.-12a-12a-8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}