Dear State Legislators and Other Elected Officials,

Questions are now being raised about important laws that have been added to state codes in all 50 states over the past 25 years. These laws were deliberately designed to abrogate private property rights and could in the future be used to harm all Americans who hold investment securities, including those held in IRA and 401(k) accounts. At the state level, the concerning statutes in question are contained within the Uniform Commercial Code (UCC), primarily in Article 8, which deals with securities. UCC Article 8 is dense and complicated, and until recently, very few outside the financial industry have understood the full implications of this law.

This letter explains our concerns, summarizes the legal aspects of UCC Article 8, and outlines near-term options for state policymakers who want to take action to protect their constituents and their states.

(To read / download the full legislative letter, please click here.)