New Hampshire HB427 amends the Uniform Commercial Code to clarify the governing law for security interests in financial assets held by securities.

New Hampshire HB427 amends the Uniform Commercial Code to specify that the local law of the issuer's jurisdiction governs matters related to uncertificated securities. It also clarifies that the property interest of entitlement holders in financial assets held by securities intermediaries takes priority over the claims of creditors of the securities intermediary. The bill further defines "deposit account" and repeals and reenacts provisions to ensure that interests in financial assets held by securities intermediaries are not subject to claims by creditors, except as otherwise provided.

New Hampshire HB427 amends the Uniform Commercial Code to clarify the governing law for security interests in financial assets held by securities.

New Hampshire HB427 amends the Uniform Commercial Code to specify that the local law of the issuer's jurisdiction governs matters related to uncertificated securities. It also clarifies that the property interest of entitlement holders in financial assets held by securities intermediaries takes priority over the claims of creditors of the securities intermediary. The bill further defines "deposit account" and repeals and reenacts provisions to ensure that interests in financial assets held by securities intermediaries are not subject to claims by creditors, except as otherwise provided.