The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 8-508)
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§ 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. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)