1309.105 Control of electronic chattel paper - UCC 9-105.
1309.105 Control of electronic chattel paper - UCC 9-105.
A secured party has control of electronic chattel paper if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that:
(A) A single authoritative copy of the record or records exists that is unique, identifiable, and, except as otherwise provided in divisions (D), (E), and (F) of this section, unalterable;
(B) The authoritative copy identifies the secured party as the assignee of the record or records;
(C) The authoritative copy is communicated to and maintained by the secured party or its designated custodian;
(D) Copies or revisions that add or change an identified assignee of the authoritative copy may be made only with the participation of the secured party;
(E) Each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and
(F) Any revision of the authoritative copy is readily identifiable as an authorized or unauthorized revision.
Effective Date: 07-01-2001