{"data":{"id":"us-hi/haw.-rev.-stat.-490-9-105","jurisdiction":"us-hi","citation":"Haw. Rev. Stat. § 490:9-105","heading":"Control of electronic copy of record evidencing chattel paper.","body":"(a) A purchaser shall be deemed to have 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\n(b) A system shall be deemed to satisfy subsection (a) if the record evidencing the chattel paper is created, stored, and assigned in a manner that:\n\n(1) A single authoritative copy of the record exists that is unique, identifiable, and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable;\n\n(2) The authoritative copy identifies the purchaser as the assignee of the record;\n\n(3) The authoritative copy is communicated to, and maintained by, the purchaser or its designated custodian;\n\n(4) 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\n(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\n\n(6) Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.\n\n(c) A system shall be deemed to satisfy subsection (a), and a purchaser shall be deemed to have 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\n(1) Enables the purchaser to readily identify each electronic copy as either an authoritative copy or a nonauthoritative copy;\n\n(2) 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\n(3) Gives the purchaser exclusive power, subject to subsection (d), to:\n\n(A) Prevent others from adding or changing an identified assignee of the authoritative electronic copy; and\n\n(B) Transfer control of the authoritative electronic copy.\n\n(d) Subject to subsection (e), a power shall be deemed exclusive under subsection (c)(3), regardless of whether:\n\n(1) 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\n(2) The power is shared with another person.\n\n(e) A power of a purchaser shall not be deemed to be shared with another person under subsection (d)(2) and the purchaser's power shall not be deemed exclusive if:\n\n(1) The purchaser may exercise the power only if the power is also exercised by the other person; and\n\n(2) The other person:\n\n(A) May exercise the power without exercise of the power by the purchaser; or\n\n(B) Is the transferor to the purchaser of an interest in the chattel paper.\n\n(f) If a purchaser has the powers specified in subsection (c)(3), the powers shall be presumed to be exclusive.\n\n(g) A purchaser shall be deemed to have 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\n(1) Has control of the authoritative electronic copy and acknowledges that it has control on behalf of the purchaser; or\n\n(2) Obtains control of the authoritative electronic copy after having acknowledged that it will obtain control of the electronic copy on behalf of the purchaser.","path":["Hawaii Code","Division 2","Title 27","Chapter 490"],"source_url":"http://www.capitol.hawaii.gov/hrscurrent/Vol11_Ch0476-0490/HRS0490/HRS_0490-0009-0105.htm","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:11Z","sha256":"0db39300519e0e01dac33bdd751f5898d735a9ab48fa9e9bc48ac3352d1b7297","source_id":"us-hi","stale":false,"prev":"us-hi/haw.-rev.-stat.-490-9-104","next":"us-hi/haw.-rev.-stat.-490-9-105.5"},"notice":"GroundRules: Original legal text. Not legal advice."}