SB2772 - Securities; apply local law of entitlement holder's jurisdiction and revise priority for security interests.

2 Co-Sponsors

An Act To Amend Section 75-8-110, Mississippi Code Of 1972, To Revise The Choice Of Law Governing Investment Securities To Provide That The Local Law Of The Entitlement Holder's Jurisdiction Governs; To Amend Section 75-8-511, Mississippi Code Of 1972, To Revise The Priority Among Security Interests And Entitlement Holders To Provide That If A Securities Intermediary Does Not Have Sufficient Interests In A Particular Financial Asset To Satisfy Both Its Obligations To Entitlement Holders Who Have Security Entitlements To That Financial Asset And Its Obligation To A Creditor Of The Securities Intermediary Who Has A Security Interest In That Financial Asset, The Claims Of Entitlement Holders, Other Than The Creditor, Have Priority Over The Claim Of The Creditor; To Amend Sections 75-9-305 And 75-8-503, Mississippi Code Of 1972, To Conform; And For Related Purposes.