HB 1248
amend provisions of the Uniform Commercial Code.
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill amends provisions of the Uniform Commercial Code, primarily focusing on how the laws of different jurisdictions apply when dealing with securities and financial accounts. Specifically, it clarifies which jurisdiction’s laws govern issues like the validity of securities, the rights of issuers and intermediaries, and the priority of claims related to security entitlements. It also updates rules regarding commodity accounts and intermediaries.
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