Source: http://topics.law.cornell.edu/ucc/8/8-507
Timestamp: 2013-12-10 10:48:50
Document Index: 451800779

Matched Legal Cases: ['§ 8', 'ART 5', '§ 8', '§ 8', '§ 8', '§ 8']

§ 8-507. DUTY OF SECURITIES INTERMEDIARY TO COMPLY WITH ENTITLEMENT ORDER. | U.C.C. - Uniform Commercial Code | LII / Legal Information Institute
Uniform Commercial Code › U.C.C. - ARTICLE 8 - INVESTMENT SECURITIES (1994) › PART 5. SECURITY ENTITLEMENTS › § 8-507. DUTY OF SECURITIES INTERMEDIARY TO COMPLY WITH ENTITLEMENT ORDER.	§ 8-507. DUTY OF SECURITIES INTERMEDIARY TO COMPLY WITH ENTITLEMENT ORDER.
(b) If a securities intermediary transfers a financial asset pursuant to an ineffective entitlement order, the securities intermediary shall reestablish a security entitlement in favor of the person entitled to it, and pay or credit any payments or distributions that the person did not receive as a result of the wrongful transfer. If the securities intermediary does not reestablish a security entitlement, the securities intermediary is liable to the entitlement holder for damages. ‹ § 8-506. DUTY OF SECURITIES INTERMEDIARY TO EXERCISE RIGHTS AS DIRECTED BY ENTITLEMENT HOLDER.
§ 8-508. DUTY OF SECURITIES INTERMEDIARY TO CHANGE ENTITLEMENT HOLDER'S POSITION TO OTHER FORM OF SECURITY HOLDING. ›