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2025 Pennsylvania Consolidated & Unconsolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 85 - Security Entitlements
Section 8508 - Duty of securities intermediary to change entitlement holder's position to other form of security holding

Universal Citation:
13 PA Cons Stat § 8508 (2025)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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§ 8508. 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:

(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.

Cross References. Section 8508 is referred to in sections 8503, 8509 of this title.

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