Vermont § 105 - § 9—105.

§ 105. § 9—105.

• Control of electronic copy of record evidencing chattel paper (a) A purchaser has 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 satisfies subsection (a) of this section if the record or records evidencing
  the chattel paper are created, stored, and assigned in a manner that: (1) a single authoritative copy of the record or records exists which is unique, identifiable,
  and, except as otherwise provided in subdivisions (4), (5), and (6) of this subsection,
  unalterable; (2) the authoritative copy identifies the purchaser as the assignee of the record or records; (3) the authoritative copy is communicated to and maintained by the purchaser or its designated
  custodian; (4) copies or amendments that add or change an identified assignee of the authoritative
  copy can be made only with the consent of the purchaser; (5) each copy of the authoritative copy and any copy of a copy is readily identifiable
  as a copy that is not the authoritative copy; and (6) any amendment of the authoritative copy is readily identifiable as authorized or unauthorized. (c) A system satisfies subsection (a) of this section, and a purchaser has 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: (1) enables the purchaser readily to identify each electronic copy as either an authoritative
  copy or a nonauthoritative copy; (2) enables the purchaser readily to identify itself in any way, including by name, identifying
  number, cryptographic key, office, or account number, as the assignee of the authoritative
  electronic copy; and (3) gives the purchaser exclusive power, subject to subsection (d) of this section, to: (A) prevent others from adding or changing an identified assignee of the authoritative
  electronic copy; and (B) transfer control of the authoritative electronic copy. (d) Subject to subsection (e) of this section, a power is exclusive under subdivisions
  (c)(3)(A) and (B) of this section even if: (1) the authoritative electronic copy, a record attached to or logically associated with
  the authoritative electronic copy, or a system in which the authoritative electronic
  copy is recorded limits the use of the authoritative electronic copy or has a protocol
  programmed to cause a change, including a transfer or loss of control; or (2) the power is shared with another person. (e) A power of a purchaser is not shared with another person under subdivision (d)(2)
  of this section and the purchaser’s power is not exclusive if: (1) the purchaser can exercise the power only if the power also is exercised by the other
  person; and (2) the other person: (A) can exercise the power without exercise of the power by the purchaser; or (B) is the transferor to the purchaser of an interest in the chattel paper. (f) If a purchaser has the powers specified in subdivisions (c)(3)(A) and (B) of this
  section, the powers are presumed to be exclusive. (g) A purchaser has 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: (1) has control of the authoritative electronic copy and acknowledges that it has control
  on behalf of the purchaser; or (2) obtains control of the authoritative electronic copy after having acknowledged that
  it will obtain control of the electronic copy on behalf of the purchaser. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001; amended 2013, No. 157 (Adj. Sess.), § 1; 2025, No. 17, § 9, eff. July 1, 2025.)