2011 Nevada Revised Statutes
Chapter 104 - Uniform Commercial Code—Original Articles
NRS 104.9105 - Control of electronic chattel paper. [Effective through June 30, 2013.]

A secured party has control of electronic chattel paper 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 subsections 4, 5 and 6, 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 revisions that add or change an identified assignee of the authoritative copy can be made only with the participation 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 revision of the authoritative copy is readily identifiable as an authorized or unauthorized revision.

(Added to NRS by 1999, 292)

NRS 104.9105 Control of electronic chattel paper; employment of system for evidencing transfer of interests in chattel paper. [Effective July 1, 2013.]

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 subsection 1 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), 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.

(Added to NRS by 1999, 292; A 2011, 617, effective July 1, 2013)