Controllable Payment Intangible.
(a) Control under Section 7-12-105. A secured party has control of a controllable electronic record as provided in Section 7-12-105. (b) Control of controllable account and controllable payment intangible. 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.
History: (Act 2023-492, §2.)