Nevada § 104B.12105 - Control of controllable electronic record

§ 104B.12105. Control of controllable electronic record

1. A person has control of a controllable electronic record if the electronic record,

a record attached to or logically associated with the electronic record or a system

in which the electronic record is recorded: (a) Gives the person: (1) The power to avail itself of substantially all the benefit from the electronic

record; and (2) Exclusive power, subject to subsection 2, to: (I) Prevent others from availing themselves of substantially all the benefit from

the electronic record; and (II) Transfer control of the electronic record to another person or cause another

person to obtain control of another controllable electronic record as a result of

the transfer of the electronic record; and (b) Enables the person readily to identify itself in any way, including by name, identifying

number, cryptographic key, office or account number, as having the powers specified

in paragraph (a). 2. Subject to subsection 3, a power is exclusive under sub-subparagraphs (I) and (II)

of subparagraph (2) of paragraph (a) of subsection 1, even if: (a) The controllable electronic record, a record attached to or logically associated

with the electronic record or a system in which the electronic record is recorded

limits the use of the electronic record or has a protocol programmed to cause a change,

including a transfer or loss of control or a modification of benefits afforded by

the electronic record; or (b) The power is shared with another person. 3. A power of a person is not shared with another person under paragraph (b) of subsection

2 and the person's power is not exclusive if: (a) The person can exercise the power only if the power also is exercised by the other

person; and (b) The other person: (1) Can exercise the power without exercise of the power by the person; or (2) Is the transferor to the person of an interest in the controllable electronic

record or a controllable account or controllable payment intangible evidenced by the

controllable electronic record. 4. If a person has the powers specified in sub-subparagraphs (I) and (II) of subparagraph

(2) of paragraph (a) of subsection 1, the powers are presumed to be exclusive. 5. A person has control of a controllable electronic record if another person, other

than the transferor to the person of an interest in the controllable electronic record

or a controllable account or controllable payment intangible evidenced by the controllable

electronic record: (a) Has control of the electronic record and acknowledges that it has control on behalf

of the person; or (b) Obtains control of the electronic record after having acknowledged that it will

obtain control of the electronic record on behalf of the person. 6. A person that has control under this section is not required to acknowledge that

it has control on behalf of another person. 7. If a person acknowledges that it has or will obtain control on behalf of another

person, unless the person otherwise agrees or law other than this Article or Article

9 otherwise provides, the person does not owe any duty to the other person and is

not required to confirm the acknowledgment to any other person.