{"data":{"id":"us-mt/30-9a-105","jurisdiction":"us-mt","citation":"30-9A-105","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 that:\n(a) a single authoritative copy of the record or records exists which is unique, identifiable, and, except as otherwise provided in subsections (2)(d), (2)(e), and (2)(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 subsections (3)(c)(i) and (3)(c)(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 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)(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 subsections (3)(c)(i) and (3)(c)(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 30. TRADE AND COMMERCE","CHAPTER 9A. UNIFORM COMMERCIAL CODE SECURED TRANSACTIONS","Part 1. General Provisions"],"source_url":"https://mca.legmt.gov/bills/mca/title_0300/chapter_009A/part_0010/section_0050/0300-009A-0010-0050.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:51:12Z","sha256":"2738e9445783c08ec0fa9123056d3ff1a1a29caffbd1067dd2a2231d5a6c252f","source_id":"us-mt","stale":false,"prev":"us-mt/30-9a-104","next":"us-mt/30-9a-106"},"notice":"GroundRules: Original legal text. Not legal advice."}