§490:8-506  Duty of securities intermediary
to exercise rights as directed by entitlement holder.  A securities
intermediary shall exercise rights with respect to a financial asset if
directed to do so by an entitlement holder.  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 either places the entitlement holder in a position to exercise the
rights directly or exercises due care in accordance with reasonable commercial
standards to follow the direction of the entitlement holder. [L 1997, c 33, pt
of §2]