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Section 78.5050 - Duty of securities intermediary with respect to payments and distributions.

OR Rev Stat § 78.5050 (2019) (N/A)
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(a) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or

(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.

(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. [1995 c.328 §45]

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Section 78.5040 - Duty of securities intermediary to maintain financial asset.
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Section 78.5060 - Duty of securities intermediary to exercise rights as directed by entitlement holder.