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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) 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.
Cite this article: FindLaw.com - Mississippi Code Title 75. Regulation of Trade, Commerce and Investments § 75-8-508. Duty of securities intermediary to change entitlement holder's position to other form of security holding - last updated January 01, 2018 | https://codes.findlaw.com/ms/title-75-regulation-of-trade-commerce-and-investments/ms-code-sect-75-8-508.html
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