A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities intermediary satisfies the duty if:
A securities intermediary is obligated to its entitlement holder for a payment or distribution made by the issuer of a financial asset if the payment or distribution is received by the securities intermediary.
Structure Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 8 - Uniform Commercial Code-Revised Article 8. Investment Securities
Part 5 - . Security Entitlements
§ 75-8-501. Securities account; acquisition of security entitlement from securities intermediary
§ 75-8-502. Assertion of adverse claim against entitlement holder
§ 75-8-504. Duty of securities intermediary to maintain financial asset
§ 75-8-505. Duty of securities intermediary with respect to payments and distributions
§ 75-8-506. Duty of securities intermediary to exercise rights as directed by entitlement holder
§ 75-8-507. Duty of securities intermediary to comply with entitlement order
§ 75-8-510. Rights of purchaser of security entitlement from entitlement holder
§ 75-8-511. Priority among security interests and entitlement holders