(a) A secured party has control of a controllable electronic record as provided in Section 12105.

(b) A secured party has control of a controllable account or controllable payment intangible if the secured party has control of the controllable electronic record that evidences the controllable account or controllable payment intangible.

Terms Used In California Commercial Code 9107.1

  • Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See California Commercial Code 1201
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See California Commercial Code 1201

(Added by Stats. 2023, Ch. 210, Sec. 28. (SB 95) Effective January 1, 2024.)

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