Bill > H0702

This bill amends existing Idaho law concerning commercial transactions, primarily by revising provisions related to "applicability and choice of law," which determines which state's laws govern certain financial transactions and disputes. Specifically, it modifies how the law of a "securities intermediary's jurisdiction" is determined, simplifying the rules and removing complex provisions that previously relied on specific agreement clauses or account statements. The bill also removes language that established priority rules between creditors holding security interests in financial assets and entitlement holders (individuals or entities holding a security entitlement, which is a right to a financial asset held by a securities intermediary). Additionally, it makes technical corrections and removes a provision regarding security interests in investment property, clarifying that the law of the debtor's location governs perfection of security interests in investment property by filing or through automatic perfection. The bill declares an emergency and sets an effective date of July 1, 2026.

Business and Industry

Business Committee (House)

https://legislature.idaho.gov/sessioninfo/2026/legislation/H0702/