Idaho Statutes

Idaho Statutes are updated to the web July 1 following the legislative session.

pecnv.out

TITLE 28
COMMERCIAL TRANSACTIONS
CHAPTER 8
INVESTMENT SECURITIES
PART 5.
SECURITY ENTITLEMENTS
28-8-506.  Duty of securities intermediary to exercise rights as directed by entitlement holder. 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.

History:
[28-8-506, added 1995, ch. 272, sec. 2, p. 897.]


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