§ 25-9-105. Control of electronic chattel paper.
§25‑9‑105. Control of electronic chattel paper.
A secured party has control ofelectronic chattel paper if the record or records comprising the chattel paperare created, stored, and assigned in such a manner that:
(1) A singleauthoritative copy of the record or records exists which is unique,identifiable and, except as otherwise provided in subdivisions (4), (5), and(6) of this section, unalterable;
(2) The authoritativecopy identifies the secured party as the assignee of the record or records;
(3) The authoritativecopy is communicated to and maintained by the secured party or its designatedcustodian;
(4) Copies or revisionsthat add or change an identified assignee of the authoritative copy can be madeonly with the participation of the secured party;
(5) Each copy of theauthoritative copy and any copy of a copy is readily identifiable as a copythat is not the authoritative copy; and
(6) Any revision of theauthoritative copy is readily identifiable as an authorized or unauthorizedrevision. (1965, c. 700, s. 1; 1967, c. 562, s. 1; 1975, c. 862,s. 7; 1989 (Reg. Sess., 1990), c. 1024, s. 8(g); 1997‑181, s. 3; 1997‑456,s. 4; 1999‑73, s. 6; 2000‑169, s. 1.)