§ 9–105
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 9-105 (2026)
Title 9. Secured Transactions
Subtitle 1. General Provisions
§ 9–105LinkCopy Citation
(a)
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.
(b)
A system satisfies subsection (a) if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that:
(1)
A single authoritative copy of the record or records exists which is unique, identifiable and, except as otherwise provided in paragraphs (4), (5), and (6) of this section, unalterable;
(2)
The authoritative copy identifies the secured party as the assignee of the record or records;
(3)
The authoritative copy is communicated to and maintained by the secured party or its designated custodian;
(4)
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;
(5)
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
(6)
Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.