Legislation

Search OpenLegislation Statutes

previous
  • SECTION 9-107
    Control of Letter-of-credit Right
    • up
  • SUBPART 1
    Short Title, Definitions, and General Concepts
    • next
  • SECTION 9-107B
    No Requirement to Acknowledge or Confirm; No Duties
    • This entry was published on 2025-12-12
    NOTE: The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.

    SECTION 9-107A

    Control of Controllable Electronic Record, Controllable Account, or Controllable Payment Intangible

    Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 9, PART 1, SUBPART 1

    * Section 9--107A. Control of Controllable Electronic Record,

    Controllable Account, or Controllable Payment

    Intangible.

    (a) Control under Section 12--105. A secured party has control of a
    controllable electronic record as provided in Section 12--105.

    (b) Control of controllable account and controllable payment
    intangible. A secured party has control of a controllable account or
    controllable payment intangible if the secured party has control of the
    controllable electronic record that evidences the controllable account
    or controllable payment intangible.

    * NB Effective June 3, 2026