{"data":{"id":"us-or/ors-79a.1050","jurisdiction":"us-or","citation":"ORS 79A.1050","heading":"UCC 9-105. 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) of this section 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 that is unique, identifiable and, except as otherwise provided in paragraphs (d), (e) and (f) of this subsection, 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) of this section, 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) of this section, to:\n      (A) Prevent others from adding or changing an identified assignee of the authoritative electronic copy; and\n      (B) Transfer control of the authoritative electronic copy.\n      (4) Subject to subsection (5) of this section, a power is exclusive under subsection (3)(c) of this section 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) of this section 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      (A) Can exercise the power without exercise of the power by the purchaser; or\n      (B) 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)(c) of this section, 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":["02 - Business Organizations, Commercial Code","8. Commercial Transactions","Chapter 79A — Secured Transactions"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors079A.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:11Z","sha256":"462731103865bc50c2ff8dfd988b46cb818005a42edd70499967b589f001ed43","source_id":"us-or","stale":false,"prev":"us-or/ors-79a.1040","next":"us-or/ors-79a.1053"},"notice":"GroundRules: Original legal text. Not legal advice."}