Duty of securities intermediary to exercise rights as directed by entitlement holder.
F.S. 678.5061
in effectA 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: FL Statutes (Official Site)URL: https://www.flsenate.gov/Laws/Statutes/2025/Chapter678/AllFetched: 7/8/2026