Duty of securities intermediary to change entitlement holders position to other form of security holding.
Nev. Rev. Stat. § 104.8508
in effectA 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. It acts as agreed upon by the entitlement holder and the securities intermediary; or
2. In the absence of agreement, it exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-104.htmlFetched: 10/4/2026