A BILL for an Act to provide for a legislative management study relating to the property rights of entitlement holders in Uniform Commercial Code transactions.

SB 2364 clarifies jurisdiction rules for financial assets held through brokers (e.g., stocks, bonds). It requires brokers to hold assets for investors (not as their own property) and establishes that investors’ claims take priority over broker creditors when assets are insufficient, unless creditors control the assets. This affects investors, brokers, and creditors in securities transactions. The bill standardizes which state laws apply to these transactions by defining "issuer’s jurisdiction" and "securities intermediary’s jurisdiction."