§ 34.1-8-508 — Duty of securities intermediary to change entitlement holder's position to other form of security holding

(a) 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:
(i) The securities intermediary acts 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 follow the direction of the entitlement
holder.