California § 8505 - A securities intermediary shall take action to obtain a payment or distribution m
Full text of California Public Contract Code - PCC § 8505 — A securities intermediary shall take action to obtain a payment or distribution m, with citation guidance and answers to common questions.
§ 8505. A securities intermediary shall take action to obtain a payment or distribution m
(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 it does either of the following: (1) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary. (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: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 8505
What does Public Contract Code - PCC § 8505 cover?
Section 8505 ("A securities intermediary shall take action to obtain a payment or distribution m") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 8505?
A common citation format is "Public Contract Code - PCC § 8505" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 8505 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.