(810 ILCS 5/8-505)
    Sec. 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.
(Source: P.A. 89-364, eff. 1-1-96.)