Okla. Stat. tit. 12A, § 12A-8-508
This is the official text of Okla. Stat. tit. 12A, § 12A-8-508, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Duty of Securities Intermediary to Change Entitlement
Official statutory text
Holder's Position to Other Forms of Security Holding.
Duty of Securities Intermediary to Change Entitlement Holder's
Position to Other Forms 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.
Duty of Securities Intermediary to Change Entitlement Holder's
Position to Other Forms 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.
Status: in_force · Read it on the official government site
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