47-9105. Control of electronic chattel
paper


A secured party has control of electronic chattel paper if the record or records
comprising the chattel paper are created, stored and assigned in such a manner that:


1. A single authoritative copy of the record or records exists that is unique,
identifiable and, except as otherwise provided in paragraphs 4, 5 and 6, unalterable;


2. The authoritative copy identifies the secured party as the assignee of the
record or records;


3. The authoritative copy is communicated to and maintained by the secured party or
its designated custodian;


4. Copies or revisions that add or change an identified assignee of the
authoritative copy can be made only with the participation of the secured party;


5. 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


6. Any revision of the authoritative copy is readily identifiable as an authorized
or unauthorized revision.