United States — Louisiana Act or statute

United States — Louisiana legislation

RS 10:8-508

A securities intermediary must follow an entitlement holder’s direction to change a security entitlement into another eligible holding form or transfer the asset to another securities account.

custodysecurity holdingstransfer instructions

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“A securities intermediary must follow an entitlement holder’s direction to change a security entitlement into another eligible holding form or transfer the asset to another securities account.”

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RS 10:8-508

A securities intermediary must follow an entitlement holder’s direction to change a security entitlement into another eligible holding form or transfer the asset to another securities account.

Section 10:8-508

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Source record from legis.la.gov · Undated source snapshot

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§ 10:8-508RS 10:8-508Provision

A securities intermediary must follow an entitlement holder’s direction to change a security entitlement into another eligible holding form or transfer the asset to another securities account.

§8-508. Duty of securities intermediary to change entitlement holder's position to other form of security holding 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. Acts 1995, No. 884, §1, eff. Jan. 1, 1996.
Section 10:8-508Verify source

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