{"data":{"id":"us-wi/wis.-stat.-408.506","jurisdiction":"us-wi","citation":"Wis. Stat. § 408.506","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":["Chs. 401-411, Uniform Commercial Code","Chapter 408 Uniform Commercial Code — Investment Securities","SUBCHAPTER V SECURITY ENTITLEMENTS"],"source_url":"https://docs.legis.wisconsin.gov/document/statutes/408.506","current_through":"2023-24 Wisconsin Statutes updated through 2025 Wis. Act 247 (published 9-4-26)","vintage":"","retrieved_at":"2026-09-05T12:01:22Z","sha256":"7edfbcc0d2a6b23553afef9f353daac24dbc0d727fc30d3bda626d7cc455c615","source_id":"us-wi","stale":false,"prev":"us-wi/wis.-stat.-408.505","next":"us-wi/wis.-stat.-408.507"},"notice":"GroundRules: Original legal text. Not legal advice."}