Nevada § 104.8508 Duty of securities intermediary to change entitlement holder’s position to other form of security holding

Nevada Statutes

§ 104.8508 — Duty of securities intermediary to change entitlement holder’s position to other form of security holding

Nevada·Title 8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS·Ch. 104 Uniform· Security Entitlements

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.It acts as agreed upon by the entitlement holder and the securities intermediary; or

2.In the absence of agreement, it exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.

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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. It acts as agreed upon by the entitlement holder and the securities intermediary; or
2. In the absence of agreement, it exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.

Nevada § 104.8508 (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.