Colorado Code
Part 5 - Security Entitlements
§ 4-8-508. 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:


Source: L. 96: Entire article R&RE, p. 231, § 2, effective July 1.


If security certificates in registered form are issued for the security, and individuals are eligible to have the security registered in their own name, the entitlement holder can request that the intermediary deliver or cause to be delivered to the entitlement holder a certificate registered in the name of the entitlement holder or a certificate indorsed in blank or specially indorsed to the entitlement holder. If security certificates in bearer form are issued for the security, the entitlement holder can request that the intermediary deliver or cause to be delivered a certificate in bearer form. If the security can be held by individuals directly in uncertificated form, the entitlement holder can request that the security be registered in its name. The specification of this duty does not determine the pricing terms of the agreement in which the duty arises.
Definitional Cross References:
"Agreement". Section 1-201(3)
"Entitlement holder". Section 8-102(a)(7)
"Financial asset". Section 8-102(a)(9)
"Securities intermediary". Section 8-102(a)(14)
"Security entitlement". Section 8-102(a)(17)

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