HB 2074 Summary

• Amends Arizona Revised Statutes Section 14-6303 regarding registration of securities in beneficiary form.

• Removes language referring to "the law of the state" and clarifies that securities may be registered in beneficiary form if authorized by the state of organization of the issuer, the registering entity's principal office location, or the transfer agent's office location.

• Establishes that registrations governed by jurisdictions without similar beneficiary form statutes are presumed valid and authorized as a matter of contract law.