SF 2265 Minnesota Senate · 2025-2026 Regular Session

Uniform Commercial Code choice of law provisions modifications

This bill modifies Minnesota's Uniform Commercial Code to clarify which state's laws govern securities transactions. It specifies that the "issuer's jurisdiction" (where a company is organized) or "securities intermediary's jurisdiction" (determined by agreement or physical location) applies to disputes over security ownership, transfer rights, and duties. The changes prevent physical locations (like certificate storage) from determining jurisdiction and ensure consistency for businesses using securities systems in Minnesota. These provisions directly affect financial institutions, investors, and companies handling securities transactions within Minnesota's legal framework.
Bill status in committee 1 of 4 stages cleared
Introduction
Mar 2025
Committee Review
Floor Vote
Governor
Introduced Mar 6, 2025 Last action Mar 6, 2025
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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Mar 6, 2025
Committee
Referred to Judiciary and Public Safety
upper
Mar 6, 2025
Introduced
Introduction and first reading
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Eric Lucero
Eric Lucero
RRepublican
MN
30