Duty of securities intermediary to exercise rights as directed by entitlement holder.

Del. Code tit. 6, § 8-506
in effect
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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.
Source: DE Code (Official Site)URL: https://delcode.delaware.gov/title6/c008/sc05/index.htmlFetched: 10/4/2026

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Del. Code tit. 6, § 8-506 — Duty of securities intermediary to exercise rights as directed by entitlement holder | Delaware Code | Corpus