HRS §490:8-506
Following your instructions about your financial assets
A securities intermediary must act on your instructions about your financial assets. They can do this by following your agreement, or if there is no agreement, by letting you act directly or by carefully following your directions using reasonable commercial standards.
financial institutions
The statute, as written — Duty of securities intermediary to exercise rights as directed by entitlement holder
A securities intermediary shall exercise rights with respect to a financial asset if directed to do so by an entitlement holder. A securities intermediary satisfies the duty if: (1) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or (2) In the absence of agreement, the securities intermediary either places the entitlement holder in a position to exercise the rights directly or exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.