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

Wis. Stat. § 408.508
in effect
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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.
Source: WI Statutes (Official Site)URL: https://docs.legis.wisconsin.gov/document/statutes/408.508Fetched: 10/7/2026
Wis. Stat. § 408.508 — Duty of securities intermediary to change entitlement holder’s position to other form of security holding | Wisconsin Statutes (updated through 2025 Wis. Act 247) | Corpus