Iowa Code 554.14107 – Governing law
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 554.14107
- Account: means the same as defined in section 554. See Iowa Code 554E.1
- Controllable account: means an account evidenced by a controllable electronic record that provides that the account debtor undertakes to pay a person that under the uniform commercial code has control of the controllable electronic record. See Iowa Code 554E.1
- Controllable electronic record: means an electronic record that can be subjected to control under any applicable article of the uniform commercial code. See Iowa Code 554E.1
- Controllable payment intangible: means a payment intangible evidenced by a controllable electronic record that provides that the account debtor undertakes to pay a person that under any applicable article of the uniform commercial code has control of the controllable electronic record. See Iowa Code 554E.1
- Electronic: means the same as defined in section 554D. See Iowa Code 554E.1
- Electronic record: means the same as defined in section 554D. See Iowa Code 554E.1
- Payment intangible: means the same as defined in section 554. See Iowa Code 554E.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- Transaction: means a sale, trade, exchange, transfer, payment, or conversion of a digital asset or any other property or any other action or set of actions occurring between two or more persons relating to the conduct of business, commercial, or governmental affairs. See Iowa Code 554E.1
Unless otherwise agreed to by the parties, the laws of this state shall govern any actions taken pursuant to this Article. This Article and the local law of this state shall apply to any transaction involving a controllable account, controllable electronic record, or controllable payment intangible if under section 554.9306A, the local law of this state governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in such controllable account, controllable electronic record, or controllable payment intangible.