{"data":{"id":"us-wa/rcw-62a.8-505","jurisdiction":"us-wa","citation":"RCW 62A.8-505","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":["Title 62A","Chapter 62A.8"],"source_url":"https://app.leg.wa.gov/rcw/default.aspx?cite=62A.8-505","current_through":"July 15, 2026","vintage":"","retrieved_at":"2026-09-06T03:39:20Z","sha256":"2a32ae3ae2018c8b427b7e0e9e5602f13baa789ae081daf0df6b4bbc4a08c50a","source_id":"us-wa","stale":false,"prev":"us-wa/rcw-62a.8-504","next":"us-wa/rcw-62a.8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}