Utah legislation · 2026 General Session
Utah HB543: Uniform Commercial Code Amendments
Status: Failed, March 6, 2026
This bill amends the Uniform Commercial Code.
What the bill says
From the substitute text, February 24, 2026:
0 Uniform Commercial Code Amendments 2026 GENERAL SESSION STATE OF UTAH Chief Sponsor: Jason B. Kyle Senate Sponsor: John D. Johnson LONG TITLE General Description: This bill amends the Uniform Commercial Code. Highlighted Provisions: This bill: - provides that a securities intermediary shall provide a disclosure when a financial asset held by the securities intermediary is subject to certain conditions. Money Appropriated in this Bill: None Other Special Clauses: None Utah Code Sections Affected: AMENDS: 70A-8-511 , as enacted by Laws of Utah 1996, Chapter 204 Be it enacted by the Legislature of the state of Utah: Section 1. Section 70A-8-511 is amended to read: 70A-8-511 . Priority among security interests and entitlement holders. (1) Except as otherwise provided in Subsections (2) and (3) , if a securities intermediary does not have sufficient interests in a particular financial asset to satisfy both its obligations to entitlement holders who have security entitlements to that financial asset and its obligation to a creditor of the securities intermediary who has a security interest in that financial asset, the claims of entitlement holders, other than the creditor, have priority over the claim of the creditor. (2) A claim of a creditor of a securities intermediary who has a security interest in a financial asset held by a securities intermediary has priority over claims of …
Sponsors
- Kyle, Jason B. (R, 8) · primary sponsor
- Johnson, John D. (R, 3)
Latest actions
- : House/ filed
- : House/ received from Senate
- : Senate/ to House
- : Senate/ strike enacting clause
- : Senate/ comm rpt/ sent to Rules
- : Senate Comm - Recommends Returned to Rules
- : Senate Comm - Not Considered
- : Senate/ to standing committee
- : Senate/ 1st reading (Introduced)
- : Senate/ received from House
Votes
- House/ passed 3rd reading (March 2, 2026): 50 yea, 21 nay, passed
- House Comm - Substitute Recommendation (February 26, 2026): 8 yea, 0 nay, passed
- House Comm - Favorable Recommendation (February 26, 2026): 8 yea, 0 nay, passed
Subjects: Business, Uniform Laws, Commerce and Trade, Legislative Operations
Common questions
- What is HB543?
- HB543 is a bill in the Utah Legislature (2026 General Session): Uniform Commercial Code Amendments.
- What does HB543 do?
- This bill amends the Uniform Commercial Code.
- What is the status of HB543?
- Failed as of March 6, 2026. Latest action: House/ filed (March 6, 2026).
- Who sponsored HB543?
- Kyle, Jason B. (R, 8), with 1 co-sponsor.
- Where is the official record for HB543?
- On the Utah Legislature website: https://le.utah.gov/~2026/bills/static/HB0543.html
Source: official Utah record. Tracked by Delilah, AI for legislation across all 50 states and Congress.