Section 104.9105 - Control of electronic chattel paper; employment of system for evidencing transfer of interests in chattel paper1. A purchaser has control of an authoritative electronic copy of a record evidencing chattel paper if a system employed for evidencing the assignment of interests in the chattel paper reliably establishes the purchaser as the person to which the authoritative electronic copy was assigned.2. A system satisfies subsection 1 if the record or records evidencing 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 purchaser as the assignee of the record or records;(c) The authoritative copy is communicated to and maintained by the purchaser 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 purchaser;(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.3. A system satisfies subsection 1, and a purchaser has control of an authoritative electronic copy of a record evidencing chattel paper, if the electronic copy, a record attached to or logically associated with the electronic copy or a system in which the electronic copy is recorded:(a) Enables the purchaser readily to identify each electronic copy as either an authoritative copy or a nonauthoritative copy;(b) Enables the purchaser readily to identify itself in any way, including by name, identifying number, cryptographic key, office or account number, as the assignee of the authoritative electronic copy; and(c) Gives the purchaser exclusive power, subject to subsection 4, to:(1) Prevent others from adding or changing an identified assignee of the authoritative electronic copy; and(2) Transfer control of the authoritative electronic copy.4. Subject to subsection 5, a power is exclusive under subparagraphs (1) and (2) of paragraph (c) of subsection 3, even if: (a) The authoritative electronic copy, a record attached to or logically associated with the authoritative electronic copy or a system in which the authoritative electronic copy is recorded limits the use of the authoritative electronic copy or has a protocol programmed to cause a change, including a transfer or loss of control; or(b) The power is shared with another person.5. A power of a purchaser is not shared with another person under paragraph (b) of subsection 4 and the purchaser's power is not exclusive if:(a) The purchaser can exercise a power only if the power also is exercised by the other person; and(b) The other person: (1) Can exercise the power without exercise of the power by the purchaser; or(2) Is the transferor to the purchaser of an interest in the chattel paper.6. If a purchaser has the powers specified in subparagraphs (1) and (2) of paragraph (c) of subsection 3, the powers are presumed to be exclusive.7. A purchaser has control of an authoritative electronic copy of a record evidencing chattel paper if another person, other than the transferor to the purchaser of an interest in the chattel paper: (a) Has control of the authoritative electronic copy and acknowledges that it has control on behalf of the purchaser; or(b) Obtains control of the authoritative electronic copy after having acknowledged that it will obtain control of the electronic copy on behalf of the purchaser.Added to NRS by 1999, 292; A 2011, 617Amended by 2023, Ch. 505,§51, eff. 10/1/2023.Added to NRS by 1999, 292; A 2011, 617, effective 7/1/2013