California Commercial Code

§ 9105

COM § 9105 Effective Jan 1, 2024Div. 9 · Ch. 1

Statute text

(a)A purchaser has control of an authoritative electronic copy of a record evidencing chattel paper if a system employed for evidencing the assignment of interests in the chattel paper reliably establishes the purchaser as the person to which the authoritative electronic copy was assigned.

(b)A system satisfies subdivision (a) if the record or records evidencing 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.

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Legislative history

Amended by Stats. 2023, Ch. 210, Sec. 26. (SB 95) Effective January 1, 2024.