Bill > HB170

This bill revises several provisions of Mississippi's Uniform Commercial Code related to investment securities, specifically focusing on jurisdiction and rights in financial assets. The bill primarily amends sections dealing with securities intermediaries and entitlement holders, replacing the previous method of determining jurisdiction with a new approach. Key changes include removing detailed rules about how a securities intermediary's jurisdiction is determined and shifting the focus to the entitlement holder's jurisdiction. The bill modifies provisions related to security interests, priority of claims, and the rights of securities intermediaries and entitlement holders in various financial transactions. For instance, it alters how priority is established between creditors and entitlement holders when a securities intermediary does not have sufficient financial assets to meet all obligations. The bill also brings forward several existing sections of the code, potentially preparing them for future amendments. These changes aim to clarify and streamline legal procedures surrounding investment securities, providing more precise guidelines for financial transactions and disputes. The bill is set to take effect on July 1, 2025, giving stakeholders time to prepare for the new regulatory framework.

Business and Industry

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0170.xml