Wisconsin § 408.506 - Duty of securities intermediary to exercise rights as directed by entitlement holder.
Full text of Wisconsin Wisconsin Statutes § 408.506 — Duty of securities intermediary to exercise rights as directed by entitlement holder., with citation guidance and answers to common questions.
§ 408.506. 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: 408.506(1) (1) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or 408.506(2) (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. 408.506 History History: 1997 a. 297 .
Source: official Wisconsin text · Last verified 2026-08-27
Frequently Asked Questions About Wisconsin § 408.506
What does Wisconsin Statutes § 408.506 cover?
Section 408.506 ("Duty of securities intermediary to exercise rights as directed by entitlement holder.") is part of the Wisconsin Statutes, the codified statutory law of Wisconsin. 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 Wisconsin § 408.506?
A common citation format is "Wisconsin Statutes § 408.506" (Wisconsin). 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 Wisconsin law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wisconsin official source linked on this page or consult a licensed Wisconsin attorney.
How does Wisconsin § 408.506 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wisconsin 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 Wisconsin.