Nevada § 104.8507 - Duty of securities intermediary to comply with entitlement order
Full text of Nevada Nevada Revised Statutes § 104.8507 — Duty of securities intermediary to comply with entitlement order, with citation guidance and answers to common questions.
§ 104.8507. Duty of securities intermediary to comply with entitlement order
1. A securities intermediary shall comply with an entitlement order if the entitlement
order is originated by the appropriate person, the securities intermediary has had
reasonable opportunity to assure itself that the entitlement order is genuine and
authorized and the securities intermediary has had a reasonable opportunity to comply
with the entitlement order. A securities intermediary satisfies the duty if: (a) It acts with respect to the duty as agreed upon by the entitlement holder and
the securities intermediary; or (b) In the absence of agreement, it exercises due care in accordance with reasonable
commercial standards to comply with the entitlement order. 2. If a securities intermediary transfers a financial asset pursuant to an ineffective
entitlement order, the securities intermediary shall re-establish a security entitlement
in favor of the person entitled to it and pay or credit any payments or distributions
that the person did not receive as a result of the wrongful transfer. If the securities intermediary does not re-establish a security entitlement, the securities
intermediary is liable to the entitlement holder for damages.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 104.8507
What does Nevada Revised Statutes § 104.8507 cover?
Section 104.8507 ("Duty of securities intermediary to comply with entitlement order") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 104.8507?
A common citation format is "Nevada Revised Statutes § 104.8507" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 104.8507 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.