(810 ILCS 5/8-508) Sec. 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: (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.