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2018 Ohio Revised Code
Title [13] XIII COMMERCIAL TRANSACTIONS - OHIO UNIFORM COMMERCIAL CODE
Chapter 1308 - INVESTMENT SECURITIES
Section 1308.56 - Duty of securities intermediary to exercise rights as directed by entitlement holder - UCC 8-506.
Universal Citation: Ohio Rev Code § 1308.56 (2018)
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:
(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 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.
Effective Date: 01-01-1998 .
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