Section 1-9-105 - [Effective Until 11/1/2024] Control of electronic chattel paper(a) 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.(b) A system satisfies subsection (a) of this section, and 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 which is unique, identifiable and, except as otherwise provided in paragraphs (4), (5), and (6) of this section, 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 amendments that add or change an identified assignee of the authoritative copy can be made only with the consent 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 amendment of the authoritative copy is readily identifiable as authorized or unauthorized.Okla. Stat. tit. 12A, § 1-9-105
Amended by Laws 2015 , c. 374, s. 2, eff. 11/1/2015.Added by Laws 2000 , SB 1519, c. 371, § 5, eff. 7/1/2001.Oklahoma Code Comment
None.
.This section is set out more than once due to postponed, multiple, or conflicting amendments.