MS SB2772

Amends Section 75-8-110 to change choice of law for investment securities from the securities intermediary's jurisdiction to the entitlement holder's jurisdiction.

Amends Section 75-8-511 to establish that claims of entitlement holders have priority over claims of creditors when a securities intermediary lacks sufficient financial assets to satisfy both obligations.

Removes exceptions in Section 75-8-511 that previously allowed creditors with control over financial assets or clearing corporations to have priority over entitlement holder claims.

Conforms Section 75-9-305 by removing references to securities intermediary's jurisdiction as the governing law for security interest perfection and priority in security entitlements.

Effective date: July 1, 2024.