{"data":{"id":"us-me/11-m.r.s.-8-1508","jurisdiction":"us-me","citation":"11 M.R.S. §8-1508","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(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":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 5: SECURITY ENTITLEMENTS"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec8-1508.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"1ad9f84634137cb0019eee8da947887f5ac049ca08f49434e35f5a4acdb75b7f","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-8-1507","next":"us-me/11-m.r.s.-8-1509"},"notice":"GroundRules: Original legal text. Not legal advice."}