§12A-8-505.

§12A-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.