554.9105 Control of electronic chattel paper. 1. General rule: control of electronic chattel paper. A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in thechattel paper reliably establishes the secured party as the person to which the chattel paperwas assigned. 2. Specific facts giving control. A system satisfies subsection 1 if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that: a. a single authoritative copy of the record or records exists which is unique, identifiable and, except as otherwise provided in paragraphs 'd', 'e', and 'f', unalterable; b. the authoritative copy identifies the secured party as the assignee of the record or records; c. the authoritative copy is communicated to and maintained by the secured party or its designated custodian; d. 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; e. 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 f. copy can be made only with the consent of the secured party; e. 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 f. any amendment of the authoritative copy is readily identifiable as an authorized or unauthorized revision. 2000 Acts, ch 1149, §5, 185, 187; 2012 Acts, ch 1052, §4, 37Referred to in §554.9203, 554.9207, 554.9208, 554.9314, 554.9330, 554.9601 Sat Dec 23 01:59:13 2023 Iowa Code 2024, Section 554.9105 (33, 0)
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