HB05849: An Act Concerning The Priority Of Claims To Financial Assets Of Securities Intermediaries.
Legislative Summary
To eliminate a statutory provision setting forth that a claim of a creditor of a securities intermediary who has a security interest in a financial asset held by a securities intermediary has priority over claims of the securities intermediary's entitlement holders who have security entitlements with respect to that financial asset if the creditor has control over the financial asset.
Demographic Impact
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