§490:9-105  Control of electronic chattel paper.  [Section effective until June 30, 2013.  For section effective July 1, 2013, see below.]  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. [L 2000, c 241, pt of §1]

     §490:9-105  Control of electronic chattel paper.  [Section effective July 1, 2013.  For section effective until June 30, 2013, see above.]  (a)  A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned.

     (b)  A system satisfies subsection (a) 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 amendments that add or change an identified assignee of the authoritative copy can be made only with the consent 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 amendment of the authoritative copy is readily identifiable as authorized or unauthorized. [L 2000, c 241, pt of §1; am L 2012, c 33, §3]