{"data":{"id":"us-me/11-m.r.s.-9-1105-a","jurisdiction":"us-me","citation":"11 M.R.S. §9-1105-A","heading":"Control of electronic copy of record evidencing 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 such that:\n(a).  A single authoritative copy of the record or records exists that is unique, identifiable and, except as otherwise provided in paragraphs (d), (e) and (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 readily to identify each electronic copy as either an authoritative copy or a nonauthoritative copy;\n(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\n(c).  Gives the purchaser exclusive power, subject to subsection (4), to:\n(i)  Prevent others from adding or changing an identified assignee of the authoritative electronic copy; and\n(ii)  Transfer control of the authoritative electronic copy.\n(4).   Subject to subsection (5), a power is exclusive under subsection (3), paragraph (c), subparagraphs (i) and (ii) 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 that is 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 under subsection (4), paragraph (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:\n(i)  Can exercise the power without exercise of the power by the purchaser; or\n(ii)  Is the transferor to the purchaser of an interest in the chattel paper.\n(6).   If a purchaser has the powers specified in subsection (3), paragraph (c), subparagraphs (i) and (ii), 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.","path":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 1: GENERAL PROVISIONS"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec9-1105-A.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"5439440078139250f25953b36186807e75246213f5b6e11a35f99c62598808e5","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-9-1105","next":"us-me/11-m.r.s.-9-1106"},"notice":"GroundRules: Original legal text. Not legal advice."}