{"data":{"id":"us-tn/tenn.-code-ann.-47-8-506","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 47-8-506","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":["TN Code","Title 47","Chapter 8"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"d79bff8653de13d8e048e789a93f3625909444341f9383587fc408f58ce8de7e","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-47-8-505","next":"us-tn/tenn.-code-ann.-47-8-507"},"notice":"GroundRules: Original legal text. Not legal advice."}