Nevada § 104B.12107 - Governing law

§ 104B.12107. Governing law

1. Except as provided in subsection 2, the law of a controllable electronic record's

jurisdiction governs a matter covered by this Article. 2. For a controllable electronic record that evidences a controllable account or controllable

payment intangible, the law of the controllable electronic record's jurisdiction governs

a matter covered by NRS 104B.12106 unless an effective agreement determines that the law of another jurisdiction governs. 3. The following rules determine a controllable electronic record's jurisdiction under

this section: (a) If the controllable electronic record, or a record attached to or logically associated

with the controllable electronic record and readily available for review, expressly

provides that a particular jurisdiction is the controllable electronic record's jurisdiction

for purposes of this Article or the Uniform Commercial Code, that jurisdiction is

the controllable electronic record's jurisdiction. (b) If paragraph (a) does not apply and the rules of the system in which the controllable

electronic record is recorded are readily available for review and expressly provide

that a particular jurisdiction is the controllable electronic record's jurisdiction

for purposes of this Article or the Uniform Commercial Code, that jurisdiction is

the controllable electronic record's jurisdiction. (c) If paragraphs (a) and (b) do not apply and the controllable electronic record,

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

and readily available for review, expressly provides that the controllable electronic

record is governed by the law of a particular jurisdiction, that jurisdiction is the

controllable electronic record's jurisdiction. (d) If paragraphs (a), (b) and (c) do not apply and the rules of the system in which

the controllable electronic record is recorded are readily available for review and

expressly provide that the controllable electronic record or the system is governed

by the law of a particular jurisdiction, that jurisdiction is the controllable electronic

record's jurisdiction. (e) If paragraphs (a) to (d), inclusive, do not apply, the controllable electronic

record's jurisdiction is the District of Columbia. 4. If paragraph (e) of subsection 3 applies and Article 12 is not in effect in the

District of Columbia without material modification, the governing law for a matter

covered by this Article is the law of the District of Columbia as though Article 12

were in effect in the District of Columbia without material modification. In this subsection, “ Article 12 ” means Article 12 of the Uniform Commercial Code Amendments (2022). 5. To the extent subsections 1 and 2 provide that the law of the controllable electronic

record's jurisdiction governs a matter covered by this Article, that law governs even

if a matter or transaction to which the matter relates does not bear any relation

to the controllable electronic record's jurisdiction. 6. The rights acquired under NRS 104B.12104 by a purchaser or qualifying purchaser are governed by the law applicable under this

section at the time of purchase.