Texas HB5174 amends the Uniform Commercial Code to clarify the law governing actions involving investment securities and the priority and perfection.

Texas HB5174 amends the Business & Commerce Code to specify that the local law of the entitlement holder's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a certificated security. It also states that the local law of the issuer's jurisdiction governs these matters for an uncertificated security.

Texas HB5174 amends the Uniform Commercial Code to clarify the law governing actions involving investment securities and the priority and perfection.

Texas HB5174 amends the Business & Commerce Code to specify that the local law of the entitlement holder's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a certificated security. It also states that the local law of the issuer's jurisdiction governs these matters for an uncertificated security.