California Commercial Code

§ 12102

COM § 12102 Effective Jan 1, 2024Div. 12

Statute text

(a)In this division, the following definitions apply:

(1)“Controllable electronic record” means a record stored in an electronic medium that can be subjected to control under Section 12105. The term does not include a controllable account, a controllable payment intangible, a deposit account, an electronic copy of a record evidencing chattel paper, an electronic document of title, electronic money, investment property, or a transferable record.

(2)“Qualifying purchaser” means a purchaser of a controllable electronic record or an interest in a controllable electronic record that obtains control of the controllable electronic record for value, in good faith, and without notice of a claim of a property right in the controllable electronic record.

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Legislative history

Added by Stats. 2023, Ch. 210, Sec. 90. (SB 95) Effective January 1, 2024.