§ 8–506
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 8-506 (2026)
Title 8. Investment Securities
Subtitle 5. Security Entitlements
§ 8–506LinkCopy Citation
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.