California Commercial Code

§ 9306.1

COM § 9306.1 Effective Jan 1, 2024Div. 9 · Ch. 3

Statute text

(a)Except as provided in subdivision (d), if chattel paper is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an authoritative electronic copy and an authoritative tangible copy, the local law of the chattel paper’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in the chattel paper, even if the transaction does not bear any relation to the chattel paper’s jurisdiction.

(b)The following rules determine the chattel paper’s jurisdiction under this section:

(1)If the authoritative electronic copy of the record evidencing chattel paper, or a record attached to or logically associated with the electronic copy and readily available for review, expressly provides that a particular jurisdiction is the chattel paper’s jurisdiction for purposes of this chapter, division, or code, that jurisdiction is the chattel paper’s jurisdiction.

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Legislative history

Added by Stats. 2023, Ch. 210, Sec. 39. (SB 95) Effective January 1, 2024.