SF0189

Amends Wyoming's Uniform Commercial Code provisions governing investment securities by clarifying applicability rules, modifying priority rules for securities intermediaries, and repealing certain related provisions.

• Modifies the choice of law provision to specify that the local law of the securities intermediary's jurisdiction governs applicability of investment securities rules, by referencing W.S. 34.1-8-110(e). (W.S. 34.1-8-110(b), Sec. 1)
• Clarifies that financial assets held by a securities intermediary are held for entitlement holders and are not property of the intermediary subject to creditor claims, except as provided in priority rules. (W.S. 34.1-8-503(a), Sec. 1)
• Establishes priority rules stating that when a securities intermediary lacks sufficient financial assets to satisfy both entitlements and creditor claims, entitlement holders have priority over creditors, except as otherwise provided in subsections (b) and (c). (W.S. 34.1-8-511(a), Sec. 1)
• Modifies the law governing perfection and priority of security interests in investment property to specify that the local law of the securities intermediary's jurisdiction governs these matters. (W.S. 34.1-9-305(a)(iii), Sec. 1)
• Repeals W.S. 34.1-8-110(e) and (f) and W.S. 34.1-8-511(b) and (c), removing prior applicability and priority provisions. (Sec. 2)

Effective: July 1, 2025

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