ORS 79.0105 - UCC 9-105

ORS 79.0105
UCC 9-105

(1)

A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned.

(2)

A system satisfies the provisions of subsection (1) of this section if the record or records comprising the chattel paper are created, stored and assigned in such a manner that:

(a)

A single authoritative copy of the record or records exists which is unique, identifiable and, except as otherwise provided in paragraphs (d), (e) and (f) of this subsection, unalterable;

(b)

The authoritative copy identifies the secured party as the assignee of the record or records;

(c)

The authoritative copy is communicated to and maintained by the secured party or its designated custodian;

(d)

Copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the secured party;

(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

(f)

Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized. [2001 c.445 §5; 2012 c.12 §2]

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Secured Transactions

ORS 79.0105
UCC 9-105

(1)

(2)

(a)

(b)

(c)

(d)

(e)

(f)

Source

Secured Transactions

ORS 79.0105 UCC 9-105

(1)

(2)

(a)

(b)

(c)

(d)

(e)

(f)

Source

ORS 79.0105
UCC 9-105