{"data":{"id":"us-dc/d.c.-code-28-8-508","jurisdiction":"us-dc","citation":"D.C. Code § 28:8-508","heading":"Duty of securities intermediary to change entitlement holder’s position to other form of security holding.","body":"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:\n\n(1)\nThe securities intermediary acts as agreed upon by the entitlement holder and the securities intermediary; or\n\n(2)\nIn the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.","path":["Title 28. Commercial Instruments and Transactions. [Enacted title]","Subtitle I. Uniform Commercial Code.","Article 8. Investment Securities.","Part V. Security Entitlements."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/28:8-508","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"13167f459bb8a4af85274bfd3026e2ed5e13205fad68bf71df25001e3e5e453f","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-28-8-507","next":"us-dc/d.c.-code-28-8-509"},"notice":"GroundRules: Original legal text. Not legal advice."}