NRS 104.9105
Control of electronic chattel paper

  • employment of system for evidencing transfer of interests in chattel paper.

1.

A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned.

2.

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)

Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.

Source: Section 104.9105 — Control of electronic chattel paper; employment of system for evidencing transfer of interests in chattel paper., https://www.­leg.­state.­nv.­us/NRS/NRS-104.­html#NRS104Sec9105.

Last Updated

Feb. 5, 2021

§ 104.9105’s source at nv​.us