{"data":{"id":"us-fl/fla.-stat.-679.1051","jurisdiction":"us-fl","citation":"Fla. Stat. § 679.1051","heading":"Control of electronic chattel paper.","body":"(1) 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.\n(2) A system satisfies subsection (1) if the record or records evidencing the chattel paper are created, stored, and assigned in a manner that:\n(a) A single authoritative copy of the record or records exists which is unique, identifiable, and, except as otherwise provided in paragraphs (d)-(f), unalterable;\n(b) The authoritative copy identifies the purchaser as the assignee of the record or records;\n(c) The authoritative copy is communicated to and maintained by the purchaser or its designated custodian;\n(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;\n(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\n(f) Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.\n(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:\n(a) Enables the purchaser to readily identify each electronic copy as either an authoritative copy or a nonauthoritative copy;\n(b) Enables the purchaser to readily 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\n(c) Gives the purchaser exclusive power, subject to subsection (4), to:\n1. Prevent others from adding or changing an identified assignee of the authoritative electronic copy; and\n2. Transfer control of the authoritative electronic copy.\n(4) Subject to subsection (5), a power is exclusive under subparagraphs (3)(c)1. and 2. even if:\n(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\n(b) The power is shared with another person.\n(5) A power of a purchaser is not shared with another person as provided in paragraph (4)(b) and the purchaser’s power is not exclusive if:\n(a) The purchaser can exercise the power only if the power also is exercised by the other person; and\n(b) The other person:\n1. Can exercise the power without exercise of the power by the purchaser; or\n2. Is the transferor to the purchaser of an interest in the chattel paper.\n(6) If a purchaser has the powers specified in subparagraphs (3)(c)1. and 2., the powers are presumed to be exclusive.\n(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:\n(a) Has control of the authoritative electronic copy and acknowledges that it has control on behalf of the purchaser; or\n(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.\nHistory.—s. 1, ch. 2001-198; s. 2, ch. 2012-59; s. 71, ch. 2025-92.","path":["CHAPTER 679 UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS"],"source_url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute\u0026URL=0600-0699/0679/0679.html","current_through":"2026 Florida Statutes","vintage":"","retrieved_at":"2026-08-27T02:11:57Z","sha256":"61a69f9881217d1572f7d486d6a4049eebafe2fa3bdae5bfa460c0dd9c24174a","source_id":"us-fl","stale":false,"prev":"us-fl/fla.-stat.-679.1041","next":"us-fl/fla.-stat.-679.1052"},"notice":"GroundRules: Original legal text. Not legal advice."}