Commercial Code - COM - COM § 12102

Summary

(a) In this division, the following definitions apply: (1) “Controllable electronic record” means a record stored in an electronic medium that can be subjected to control under Section 12105. The term does not include a controllable account, a controllable payment intangible, a d

Text

(a)
In this division, the following definitions apply:
(1)
“Controllable electronic record” means a record stored in an electronic medium that can be subjected to control under Section 12105. The term does not include a controllable account, a controllable payment intangible, a deposit account, an electronic copy of a record evidencing chattel paper, an electronic document of title, electronic money, investment property, or a transferable record.
(2)
“Qualifying purchaser” means a purchaser of a controllable electronic record or an interest in a controllable electronic record that obtains control of the
controllable electronic record for value, in good faith, and without notice of a claim of a property right in the controllable electronic record.
(3)
“Transferable record” has the meaning provided for that term in either of the following:
(A)
Paragraph (1) of subsection (a) of Section 7021 of Title 15 of the United States Code.
(B)
Subsection (a) of Section 16 of the Uniform Electronic Transactions Act of any state whose law is applicable.
(4)
“Value” has the meaning provided in
subdivision (a) of Section 3303, as if references in that subdivision to an “instrument” were references to a controllable account, controllable electronic record, or controllable payment intangible.
(b)
The definitions in Division 9 (commencing with Section 9101) of “account debtor,” “controllable account,” “controllable
payment intangible,” “chattel paper,” “deposit account,” “electronic money,” and “investment property” apply to this division.
(c)
Division 1 (commencing with Section 1101) contains general definitions and principles of construction and interpretation applicable throughout this division.

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• #1 | Commercial Code - COM - COM § 12102

  (a) In this division, the following definitions apply: (1) “Controllable electronic record” means a record stored in an electronic medium that can be subjected to control under Section 12105. The term does not include a controllable account, a controllable payment intangible, a deposit account, an electronic copy o…