Vermont § 104 - § 12—104.

§ 104. § 12—104.

• Rights in controllable account, controllable electronic record, and controllable payment
  intangible (a) This section applies to the acquisition and purchase of rights in a controllable account
  or controllable payment intangible, including the rights and benefits under subsections
  (c), (d), (e), (g), and (h) of this section of a purchaser and qualifying purchaser,
  in the same manner this section applies to a controllable electronic record. (b) To determine whether a purchaser of a controllable account or a controllable payment
  intangible is a qualifying purchaser, the purchaser obtains control of the account
  or payment intangible if it obtains control of the controllable electronic record
  that evidences the account or payment intangible. (c) Except as provided in this section, law other than this article determines whether
  a person acquires a right in a controllable electronic record and the right the person
  acquires. (d) A purchaser of a controllable electronic record acquires all rights in the controllable
  electronic record that the transferor had or had power to transfer, except that a
  purchaser of a limited interest in a controllable electronic record acquires rights
  only to the extent of the interest purchased. (e) A qualifying purchaser acquires its rights in the controllable electronic record free
  of a claim of a property right in the controllable electronic record. (f) Except as provided in subsections (a) and (e) of this section for a controllable account
  and a controllable payment intangible or law other than this article, a qualifying
  purchaser takes a right to payment, right to performance, or other interest in property
  evidenced by the controllable electronic record subject to a claim of a property right
  in the right to payment, right to performance, or other interest in property. (g) An action may not be asserted against a qualifying purchaser based on both a purchase
  by the qualifying purchaser of a controllable electronic record and a claim of a property
  right in another controllable electronic record, whether the action is framed in conversion,
  replevin, constructive trust, equitable lien, or other theory. (h) Filing of a financing statement under Article 9 is not notice of a claim of a property
  right in a controllable electronic record. (Added 2025, No. 17, § 10, eff. July 1, 2025.)