89th Legislature, Regular Session
SB 1239
Relating to choice of law and assignment or acquisition of claims and demands in connection with certificated and uncertificated securities.
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- Passed House
- To Governor
- Became Law
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S.B. No. 1239 AN ACT relating to choice of law and assignment or acquisition of claims and demands in connection with certificated and uncertificated securities. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 8.110, Business & Commerce Code, is amended by adding Subsection (g) to read as follows: (g) If a security is determined not to be valid under the local law of the issuer's jurisdiction, the law of the jurisdiction agreed by the issuer of the security to govern the construction or interpretation of documents evidencing or containing the terms of the security and matters arising out of or relating to the security