California Commercial Code Section 9105
Legal Research Home >
California Laws > Commercial Code > California Commercial Code Section 9105
9105. 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 each of the following
conditions is satisfied:
(1) A single authoritative copy of the record or records exists
which is unique, identifiable, and, except as otherwise provided in
paragraphs (4), (5), and (6), unalterable.
(2) The authoritative copy identifies the secured party as the
assignee of the record or records.
(3) The authoritative copy is communicated to and maintained by
the secured party or its designated custodian.
(4) Copies or revisions that add or change an identified assignee
of the authoritative copy can be made only with the participation of
the secured party.
(5) Each copy of the authoritative copy and any copy of a copy is
readily identifiable as a copy that is not the authoritative copy.
(6) Any revision of the authoritative copy is readily identifiable
as an authorized or unauthorized revision.
Section: 9105
Last modified: February 22, 2013
|
