Oregon Code § 78.5050·Enacted ·Last updated March 01, 2026
Statute Text
Duty
of securities intermediary with respect to payments and distributions.
(1) 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) 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 exercises due care in
accordance with reasonable commercial standards to attempt to obtain the
payment or distribution.
(2) 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. [1995 c.328 §45]
Plain English Explanation
This Oregon statute addresses Duty
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 78.5050
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Duty
. Read the full statute text above for details.
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The formal citation is Oregon Code § 78.5050. Use this format in legal documents and court filings.
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