SB0508 amends Tennessee's Uniform Commercial Code to change the governing law for securities and commodity intermediaries.

SB0508 modifies Tennessee's Uniform Commercial Code by changing the jurisdiction's law that governs securities and commodity intermediaries. It replaces the local law of the securities intermediary's jurisdiction with the law of the state. The bill also removes subsections (e) and (f) from Section 47-8-110 and deletes certain exceptions in Section 47-8-503(a).

SB0508 amends Tennessee's Uniform Commercial Code to change the governing law for securities and commodity intermediaries.

SB0508 modifies Tennessee's Uniform Commercial Code by changing the jurisdiction's law that governs securities and commodity intermediaries. It replaces the local law of the securities intermediary's jurisdiction with the law of the state. The bill also removes subsections (e) and (f) from Section 47-8-110 and deletes certain exceptions in Section 47-8-503(a).