l9n/ Mississippi

2024 Regular Session

Senate Bill 2772

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

Did not become law. It stopped in the Senate's Judiciary, Division A Committee on March 5, 2024. The 2024 session has ended.

What it does

The synopsis the Legislature published with the bill.

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.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

1 co-sponsor

J. Walter Michel

Its course

February 19 to March 5, 2024, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action2 actions on 2 days

In the SenateFeb 19 to Mar 5 · stopped15 days

Judiciary, Division AFeb 19 to Mar 5 · stopped15 days

Text

Each version as the Legislature printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislature published it is below.

In the Senate Feb 19 – Mar 5

  1. Feb 19Referred to the Senate committee on Judiciary, Division A
  2. Mar 5Died in committee in the Senate
All 2 actions, as published
  1. Feb 19Referred To Judiciary, Division ASenate
  2. Mar 5Died In CommitteeSenate