ID H0702

Amends Section 28-8-110 to make Idaho law govern security entitlements from securities intermediaries, replacing the previous framework that allowed determination of governing jurisdiction based on account agreements or intermediary location

Removes Section 28-8-110 subsections (5) and (6), which established rules for determining a securities intermediary's jurisdiction and clarified that jurisdiction is not determined by physical location of certificates or data processing facilities

Eliminates provisions in Section 28-8-511 that gave creditors with control over financial assets priority over entitlement holders, and removes the rule giving clearing corporation creditors priority over entitlement holders

Amends Section 28-9-305 to remove the provision specifying that securities intermediary jurisdiction governs perfection and priority of security interests in security entitlements or securities accounts

Declared an emergency measure with an effective date of July 1, 2026