Idaho Statutes

Idaho Statutes are updated to the web July 1 following the legislative session.

pecnv.out

TITLE 28
COMMERCIAL TRANSACTIONS
CHAPTER 8
INVESTMENT SECURITIES
PART 5.
SECURITY ENTITLEMENTS
28-8-508.  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.

History:
[28-8-508, added 1995, ch. 272, sec. 2, p. 898.]


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