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Duty of Securities Intermediary With Respect to Payments and Distributions.

RSA 382-A:8-505
in effect
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382-A:8-505. Duty of Securities Intermediary With Respect to Payments and Distributions. (a) 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: (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 exercises due care in accordance with reasonable commercial standards to attempt to obtain the payment or distribution. (b) 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. Source. 1998, 326:1, eff. Jan. 1, 1999.
Source: New Hampshire General Court (gc.nh.gov)URL: https://gc.nh.gov/rsa/html/XXXIV-A/382-A/382-A-8-505.htmFetched: 10/20/2026

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