RCW 62A.8-508
119 words·~1 min read·
/wa/title-62a/chapter-62a-8/62a-8-508·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.
[ 1995 c 48 s 48 .]
Notes:
Effective date — 1995 c 48: See RCW 62A.11-113 .