Control of electronic copy of record evidencing chattel paper

HRS §490:9-105 — under Chapter 490.

HRS §490:9-105

§490:9-105 Control of electronic copy of record evidencing chattel paper. (a) A purchaser shall be deemed to have control of an authoritative electronic copy of a record evidencing chattel paper if a system employed for evidencing the assignment of interests in the chattel paper reliably establishes the purchaser as the person to which the authoritative electronic copy was assigned.

(b) A system shall be deemed to satisfy subsection (a) if the record evidencing the chattel paper is created, stored, and assigned in a manner that:

(c) A system shall be deemed to satisfy subsection (a), and a purchaser shall be deemed to have control of an authoritative electronic copy of a record evidencing chattel paper, if the electronic copy, a record attached to, or logically associated with, the electronic copy, or a system in which the electronic copy is recorded:

(d) Subject to subsection (e), a power shall be deemed exclusive under subsection (c)(3), regardless of whether:

(e) A power of a purchaser shall not be deemed to be shared with another person under subsection (d)(2) and the purchaser's power shall not be deemed exclusive if:

(f) If a purchaser has the powers specified in subsection (c)(3), the powers shall be presumed to be exclusive.

(g) A purchaser shall be deemed to have control of an authoritative electronic copy of a record evidencing chattel paper if another person, other than the transferor to the purchaser of an interest in the chattel paper: