§490:8-508  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. [L 1997, c 33, pt
of §2]