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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.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 8. Commercial Instruments and Transactions § 104.8508. Duty of securities intermediary to change entitlement holder's position to other form of security holding - last updated January 01, 2020 | https://codes.findlaw.com/nv/title-8-commercial-instruments-and-transactions/nv-rev-st-104-8508/
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