Duty of securities intermediary to change entitlement holder’s position to other form of security holding.

  1. Law
  2. Florida Statutes
  3. Commercial Relations
  4. Uniform Commercial Code: Investment Securities
  5. Security Entitlements (Ss. 678.5011-678.5111)
  6. Duty of securities intermediary to change entitlement holder’s position to other form of security holding.

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(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.—s. 5, ch. 98-11.


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