{"data":{"id":"us-sd/sdcl-57a-8-506","jurisdiction":"us-sd","citation":"SDCL § 57A-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.\nSource: SL 1998, ch 284, § 1.","path":["TITLE 57A. UNIFORM COMMERCIAL CODE","CHAPTER 57A-8. INVESTMENT SECURITIES"],"source_url":"https://sdlegislature.gov/Statutes/57A-8-506","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"9528cecc9baa00d0dd1ab234cfd5c77f6a78c4e55a40b8415b2216d888599899","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-57a-8-505","next":"us-sd/sdcl-57a-8-507"},"notice":"GroundRules: Original legal text. Not legal advice."}