Wyoming § 34.1-8-507 Duty of securities intermediary to comply with
entitlement order

Wyoming Statutes

§ 34.1-8-507 — Duty of securities intermediary to comply with entitlement order

Wyoming § 34.1-8-507

Title 34.1Uniform Commercial Code

Art. 8INVESTMENT SECURITIES

This text of Wyoming § 34.1-8-507 (Duty of securities intermediary to comply with entitlement order) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 34.1-8-507 (2026).

Text

(a)A securities intermediary shall comply with an entitlement order if the entitlement order is originated by the appropriate person, the securities intermediary has had reasonable opportunity to assure itself that the entitlement order is genuine and authorized, and the securities intermediary has had reasonable opportunity to comply with the entitlement order. A securities intermediary satisfies the duty if:

(i)The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or

(ii)In the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to comply with the entitlement order.

(b)If a securities intermediary transfers a financial asset pursuant to an

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

(a) A securities intermediary shall comply with an
entitlement order if the entitlement order is originated by the
appropriate person, the securities intermediary has had
reasonable opportunity to assure itself that the entitlement
order is genuine and authorized, and the securities intermediary
has had reasonable opportunity to comply with the entitlement
order. A securities intermediary satisfies the duty if:
(i) The securities intermediary acts with respect to
the duty as agreed upon by the entitlement holder and the
securities intermediary; or
(ii) In the absence of agreement, the securities
intermediary exercises due care in accordance with reasonable
commercial standards to comply with the entitlement order.
(b) If a securities intermediary transfers a financial
asset pursuant to an ineffective entitlement order, the
securities intermediary shall reestablish a security entitlement
in favor of the person entitled to it, and pay or credit any
payments or distributions that the person did not receive as a
result of the wrongful transfer. If the securities intermediary
does not reestablish a security entitlement, the securities
intermediary is liable to the entitlement holder for damages.