Idaho § 28-8-508 DUTY OF SECURITIES INTERMEDIARY TO CHANGE ENTITLEMENT HOLDER’S POSITION TO OTHER FORM OF SECURITY HOLDING

Idaho Statutes

§ 28-8-508 — DUTY OF SECURITIES INTERMEDIARY TO CHANGE ENTITLEMENT HOLDER’S POSITION TO OTHER FORM OF SECURITY HOLDING

Idaho·Title 28 COMMERCIAL TRANSACTIONS·Part 5. SECURITY ENTITLEMENTS·Ch. 8 INVESTMENT SECURITIES

A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which the entitlement holder is eligible, or to cause the financial asset to be transferred to a securities account of the entitlement holder with another securities intermediary. A securities intermediary satisfies the duty if:

(1)The securities intermediary acts 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 follow the direction of the entitlement holder.

Free access — add to your briefcase to read the full text and ask questions with AI

A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which the entitlement holder is eligible, or to cause the financial asset to be transferred to a securities account of the entitlement holder with another securities intermediary. A securities intermediary satisfies the duty if:
(1) The securities intermediary acts 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 follow the direction of the entitlement holder.

Idaho § 28-8-508 (DUTY OF SECURITIES INTERMEDIARY TO CHANGE ENTITLEMENT HOLDER’S POSITION TO OTHER FORM OF SECURITY HOLDING) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.