{"data":{"id":"us-wv/w.-va.-code-46-8-505","jurisdiction":"us-wv","citation":"W. Va. Code § 46-8-505","heading":"Duty of securities intermediary with respect to payments and distributions.","body":"(a) 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(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 exercises due care in accordance with reasonable commercial standards to attempt to obtain the payment or distribution.\n(b) 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":["CHAPTER 46. UNIFORM COMMERCIAL CODE.","ARTICLE 8. INVESTMENT SECURITIES."],"source_url":"https://code.wvlegislature.gov/46-8-505/","current_through":"as of 2026-08-03; contains at least the enactments of the 2026 Regular Session","vintage":"","retrieved_at":"2026-09-06T00:29:53Z","sha256":"69d0c4e3bb74703fdcaccfc1713a0ae5b2e76ec0e9784c48bc920a1514c74ec7","source_id":"us-wv","stale":true,"prev":"us-wv/w.-va.-code-46-8-504","next":"us-wv/w.-va.-code-46-8-506"},"notice":"GroundRules: Original legal text. Not legal advice."}