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Utah's commercial code sets rules for who has first claim on financial assets—like stocks or bonds—when a firm holding those assets for customers (called a securities intermediary) also owes money to its own creditors. Under current law, in certain situations a creditor of the securities intermediary or a clearing corporation can have priority over the customers who technically own interests in those assets, meaning the customers could lose out if there aren't enough assets to cover everyone's claims. This bill would require the securities intermediary to give each affected customer a clear, written disclosure whenever their financial asset is subject to this kind of arrangement, explaining that the asset falls under these priority rules and describing in practical terms what that could mean for them. If passed, this measure would take effect on May 6, 2026.