{"data":{"id":"us-va/va.-code-8.8a-506","jurisdiction":"us-va","citation":"Va. Code § 8.8A-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:(1) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or(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.1996, c. 216.","path":["Title 8.8A. COMMERCIAL CODE — INVESTMENT SECURITIES","Part 5. SECURITY ENTITLEMENTS"],"source_url":"https://law.lis.virginia.gov/vacode/8.8A-506/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:13:24Z","sha256":"80778794919556602dea88c161eda8757d03f5f2ecf83b1d11060c7709ff77dd","source_id":"us-va","stale":true,"prev":"us-va/va.-code-8.8a-505","next":"us-va/va.-code-8.8a-507"},"notice":"GroundRules: Original legal text. Not legal advice."}