Generally revise uniform commercial code related to entitlement holder local law

This bill (LC 293) clarifies which state laws govern securities transactions involving "entitlement holders" (investors or financial institutions holding securities). It amends Montana Code Annotated sections 30-8-120, 30-8-503, 30-8-511, and 30-9A-305 to specify that: - The issuer’s state law governs security validity and transfer registration (Section 30-8-120). - The securities intermediary’s state law governs rights between the intermediary and the entitlement holder (Section 30-8-120). This reduces legal uncertainty in cross-state transactions by defining jurisdiction based on agreement terms or location of offices, not physical asset locations. It directly affects financial institutions, investors, and securities issuers operating across state lines.