HRS §490:8-508
Changing how you hold your securities
This section says your securities firm must follow your instructions to change how you hold your securities or move them to another firm. It meets this duty by doing what you agreed, or if no agreement, by using reasonable care to follow your directions.
financial institutions
The statute, as written — 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.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.