{"data":{"id":"us-or/ors-78.5050","jurisdiction":"us-or","citation":"ORS 78.5050","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":["02 - Business Organizations, Commercial Code","8. Commercial Transactions","Chapter 78 — Investment Securities"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors078.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:11Z","sha256":"2bda41da5b0aa7274af678869f949ffacd92b7725bd2cb4262aec824e403bba7","source_id":"us-or","stale":false,"prev":"us-or/ors-78.5040","next":"us-or/ors-78.5060"},"notice":"GroundRules: Original legal text. Not legal advice."}