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House approves UCC transparency changes after debate over uniformity
Summary
The Utah House approved first substitute HB 543 requiring clearer disclosure when securities entitlements are used as collateral; supporters called it a transparency measure while opponents warned it could leave Utah nonconforming with the Uniform Commercial Code.
The House passed first substitute HB 543 on March 2 to amend the state’s treatment of certain securities entitlements and require clearer disclosure when those entitlements could be used as collateral. The substitute passed on the House floor, 50–21.
Representative Jason B. Kyle, sponsor of the substitute, described the measure as a transparency bill: “My bill simply says that if this occurs, then it…
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