MO SB1256

Amends Missouri's Uniform Commercial Code (sections 400.8-110, 400.8-503, 400.8-511, and 400.9-305) to change jurisdiction rules for securities intermediaries from variable jurisdiction based on agreements to Missouri state law

Removes the multi-factor test for determining a securities intermediary's jurisdiction, which previously allowed jurisdiction to be set by agreement, governing law provisions, account location, or chief executive office location

Eliminates provisions that gave creditors with control over financial assets priority over entitlement holders' claims against securities intermediaries

Removes special priority rules for clearing corporations that allowed their creditors' claims to take precedence over entitlement holders

Strengthens protections for entitlement holders by making financial assets held by securities intermediaries not subject to creditor claims, without the previous exceptions