N.Y. Uniform Commercial Code Law Section 9-105
Control of Electronic Chattel Paper

Section 9--105. Control of Electronic Chattel Paper. 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:

(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; and

(6)

any revision of the authoritative copy is readily identifiable as an authorized or unauthorized revision.

Source: Section 9-105 — Control of Electronic Chattel Paper, https://www.­nysenate.­gov/legislation/laws/UCC/9-105 (updated Sep. 22, 2014; accessed May 11, 2024).

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Accessed:
May 11, 2024

Last modified:
Sep. 22, 2014

§ 9-105’s source at nysenate​.gov

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