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Can you summarize IACO 554.9305?
UNIFORM COMMERCIAL CODE > Law governing perfection and priority of security interests in investment property.
Short Summary
This legal document governs the perfection and priority of security interests in investment property. It provides rules for determining the governing law, perfection, effect of perfection or nonperfection, and priority of security interests in different types of securities such as certificated securities, uncertificated securities, security entitlements, securities accounts, commodity contracts, and commodity accounts. The document also specifies the jurisdiction of a commodity intermediary based on agreements or the location of offices. Additionally, it states that the local law of the jurisdiction where the debtor is located governs the perfection of security interests in investment property created by filing, brokers or securities intermediaries, and commodity intermediaries. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Creditors and parties involved in security interests in investment property
What does it govern?
Perfection and priority of security interests in investment property
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Iowa