WVC 46 - 8 - 508
§46-8-508. 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
(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.
Note: WV Code updated with legislation passed through the 2015 Regular Session
The WV Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.