California · Commercial Code

COM §8111: A rule adopted by a clearing corporation governing rights and obligations among the clearing corporation and its participants in the clearing corporation is effective even if the rule conflicts with t

What this law says, in plain English

A clearing corporation's rules governing rights and obligations between itself and participants are valid even if they conflict with other provisions.

Read the full statutory text

A rule adopted by a clearing corporation governing rights and obligations among the clearing corporation and its participants in the clearing corporation is effective even if the rule conflicts with this division and affects another party who does not consent to the rule.

Verify at the official source: California legislative text

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