The bill amends the Uniform Commercial Code in Wyoming to clarify the applicability of the code concerning investment securities and to revise priority rules for securities intermediaries. Key changes include the replacement of the term "local" with "state" in several sections, specifically in W.S. 34.1-8-110(b), 34.1-9-305(a)(iii), and the removal of references to the securities intermediary's jurisdiction. Additionally, the bill specifies that all interests in a financial asset held by a securities intermediary are for the entitlement holders and not subject to the intermediary's creditors, unless otherwise stated in W.S. 34.1-8-511.

Furthermore, the bill repeals certain priority and applicability rules related to securities intermediaries, specifically W.S. 34.1-8-110(e) and (f), and W.S. 34.1-8-511(b) and (c). The changes aim to streamline the legal framework governing securities and enhance clarity regarding the rights of entitlement holders versus creditors. The act is set to take effect on July 1, 2025.