{"data":{"id":"us-va/va.-code-8.8a-508","jurisdiction":"us-va","citation":"Va. Code § 8.8A-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:(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.1996, c. 216.","path":["Title 8.8A. COMMERCIAL CODE — INVESTMENT SECURITIES","Part 5. SECURITY ENTITLEMENTS"],"source_url":"https://law.lis.virginia.gov/vacode/8.8A-508/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:13:24Z","sha256":"93264b3066a82833ebe02112bcc6d00669a13b2855dd102a4e75434dd2fe0190","source_id":"us-va","stale":true,"prev":"us-va/va.-code-8.8a-507","next":"us-va/va.-code-8.8a-509"},"notice":"GroundRules: Original legal text. Not legal advice."}