408.507 Duty of securities intermediary to comply with entitlement order.
115 words·~1 min read·
/wi/chapter-408/408-507A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
408.507 Duty of securities intermediary to comply with entitlement order.
(1)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:
(a)The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or
(b)In the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to comply with the entitlement order.