{"data":{"id":"us-sc/s.c.-code-ann.-36-8-506","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 36-8-506","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) 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 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.","path":["Title 36 - COMMERCIAL CODE","CHAPTER 8 Commercial Code—Investment Securities","Part 5 Security Entitlements"],"source_url":"https://www.scstatehouse.gov/code/t36c008.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:08:44Z","sha256":"d79bff8653de13d8e048e789a93f3625909444341f9383587fc408f58ce8de7e","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-36-8-505","next":"us-sc/s.c.-code-ann.-36-8-507"},"notice":"GroundRules: Original legal text. Not legal advice."}