# Idaho Code § 28-8-110: 28-8-110 APPLICABILITY AND CHOICE OF LAW > Idaho · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-110 ## Section - **Citation:** Idaho Code § 28-8-110 - **Heading:** 28-8-110 APPLICABILITY AND CHOICE OF LAW - **Jurisdiction:** Idaho - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Idaho Code / Title 28 / Chapter 8 / Section 28-8-110 ## Text PART 1. SHORT TITLE AND GENERAL MATTERS 28-8-110. Applicability and choice of law. (1) The local law of the issuer's jurisdiction, as specified in subsection (4) of this section, governs: (a) The validity of a security; (b) The rights and duties of the issuer with respect to registration of transfer; (c) The effectiveness of registration of transfer by the issuer; (d) Whether the issuer owes any duties to an adverse claimant to a security; and (e) Whether an adverse claim can be asserted against a person to whom transfer of a certificated or uncertificated security is registered or a person who obtains control of an uncertificated security. (2) The local law of the securities intermediary's jurisdiction, as specified in subsection (5) of this section, governs: (a) Acquisition of a security entitlement from the securities intermediary; (b) The rights and duties of the securities intermediary and entitlement holder arising out of a security entitlement; (c) Whether the securities intermediary owes any duties to an adverse claimant to a security entitlement; and (d) Whether an adverse claim can be asserted against a person who acquires a security entitlement from the securities intermediary or a person who purchases a security entitlement or interest therein from an entitlement holder. (3) The local law of the jurisdiction in which a security certificate is located at the time of delivery governs whether an adverse claim can be asserted against a person to whom the security certificate is delivered. (4) "Issuer's jurisdiction" means the jurisdiction under which the issuer of the security is organized or, if permitted by the law of that jurisdiction, the law of another jurisdiction specified by the issuer. An issuer organized under the law of this state may specify the law of another jurisdiction as the law governing the matters specified in subsections (1)(b) through (1)(e) of this section. (5) The following rules determine a "securities intermediary's jurisdiction" for purposes of this section: (a) If an agreement between the securities intermediary and its entitlement holder governing the securities account expressly provides that a particular jurisdiction is the securities intermediary's jurisdiction for purposes of this part, this chapter, or this act, that jurisdiction is the securities intermediary's jurisdiction. (b) If paragraph (a) of this subsection does not apply and an agreement between the securities intermediary and its entitlement holder governing the securities account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the securities intermediary's jurisdiction. (c) If neither paragraph (a) nor paragraph (b) of this section applies and an agreement between the securities intermediary and its entitlement holder governing the securities account expressly provides that the securities account is maintained at an office in a particular jurisdiction, that jurisdiction is the securities intermediary's jurisdiction. (d) If none of the preceding paragraphs apply, the securities intermediary's jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the entitlement holder's account is located. (e) If none of the preceding paragraphs apply, the securities intermediary's jurisdiction is the jurisdiction in which the chief executive office of the securities intermediary is located. (6) A securities intermediary's jurisdiction is not determined by the physical location of certificates representing financial assets, or by the jurisdiction in which is organized the issuer of the financial asset with respect to which an entitlement holder has a security entitlement, or by the location of facilities for data processing or other recordkeeping concerning the account. History: [28-8-110, added 1995, ch. 272, sec. 2, p. 882; am. 2001, ch. 208, sec. 16, p. 813.] ## Nearby sections - [Idaho Code § 28-8-101 28-8-101 SHORT TITLE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-101.md) - [Idaho Code § 28-8-102 28-8-102 DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-102.md) - [Idaho Code § 28-8-103 28-8-103 RULES FOR DETERMINING WHETHER CERTAIN OBLIGATIONS AND INTERESTS ARE SECURITIES OR FINANCIAL ASSETS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-103.md) - [Idaho Code § 28-8-104 28-8-104 ACQUISITION OF SECURITY OR FINANCIAL ASSET OR INTEREST THEREIN.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-104.md) - [Idaho Code § 28-8-105 28-8-105 NOTICE OF ADVERSE CLAIM.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-105.md) - [Idaho Code § 28-8-106 28-8-106 CONTROL.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-106.md) - [Idaho Code § 28-8-107 28-8-107 WHETHER INDORSEMENT, INSTRUCTION OR ENTITLEMENT ORDER IS EFFECTIVE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-107.md) - [Idaho Code § 28-8-108 28-8-108 WARRANTIES IN DIRECT HOLDING.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-108.md) - [Idaho Code § 28-8-109 28-8-109 WARRANTIES IN INDIRECT HOLDING.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-109.md) - [Idaho Code § 28-8-110 28-8-110 APPLICABILITY AND CHOICE OF LAW.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-110.md) - [Idaho Code § 28-8-111 28-8-111 CLEARING CORPORATION RULES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-111.md) - [Idaho Code § 28-8-112 28-8-112 CREDITOR'S LEGAL PROCESS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-112.md) - [Idaho Code § 28-8-113 28-8-113 STATUTE OF FRAUDS INAPPLICABLE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-113.md) - [Idaho Code § 28-8-114 28-8-114 EVIDENTIARY RULES CONCERNING CERTIFICATED SECURITIES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-114.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ID_T28_C8_S28-8-110. 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