{"data":{"id":"us-il/810-ilcs-5-8-508","jurisdiction":"us-il","citation":"810 ILCS 5/8-508","heading":"","body":"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:\n(1) the securities intermediary acts as agreed upon by the entitlement holder and the securities intermediary; or\n(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.","path":["CHAPTER 810 COMMERCIAL CODE","Uniform Commercial Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=2301\u0026ChapterID=66\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"3b0e5b2f3f52587692e986d264912296063996884005461ace1e1e6a7200be98","source_id":"us-il","stale":false,"prev":"us-il/810-ilcs-5-8-507","next":"us-il/810-ilcs-5-8-509"},"notice":"GroundRules: Original legal text. Not legal advice."}