Utah HB0543 amends the Uniform Commercial Code to clarify jurisdiction rules for securities intermediaries and modify the priority of security.

Utah HB0543 amends the Uniform Commercial Code to specify which jurisdiction's law applies to actions involving a securities intermediary. It removes exceptions that allowed creditors to have priority over entitlement holders in security interests. The bill also amends rules relating to the perfection and priority of a security interest. Additionally, it makes technical and conforming changes to various sections of the Uniform Commercial Code. The changes take effect on May 6, 2026.

Utah HB0543 amends the Uniform Commercial Code to clarify jurisdiction rules for securities intermediaries and modify the priority of security.

Utah HB0543 amends the Uniform Commercial Code to specify which jurisdiction's law applies to actions involving a securities intermediary. It removes exceptions that allowed creditors to have priority over entitlement holders in security interests. The bill also amends rules relating to the perfection and priority of a security interest. Additionally, it makes technical and conforming changes to various sections of the Uniform Commercial Code. The changes take effect on May 6, 2026.