Vermont § 107 - § 12—107.

§ 107. § 12—107.

• Governing law (a) Except as provided in subsection (b) of this section, the local law of a controllable
  electronic record’s jurisdiction governs a matter covered by this article. (b) For a controllable electronic record that evidences a controllable account or controllable
  payment intangible, the local law of the controllable electronic record’s jurisdiction
  governs a matter covered by section 12—106 of this title unless an effective agreement determines that the local law of another jurisdiction
  governs. (c) The following rules determine a controllable electronic record’s jurisdiction under
  this section: (1) 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 title, that jurisdiction is the controllable electronic
  record’s jurisdiction. (2) If subdivision (1) of this subsection 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 title, that jurisdiction is
  the controllable electronic record’s jurisdiction. (3) If subdivisions (1) and (2) of this subsection 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. (4) If subdivisions (1), (2), and (3) of this subsection 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. (5) If subdivisions (1)–(4) of this subsection do not apply, the controllable electronic
  record’s jurisdiction is the District of Columbia. (d) If subdivision (c)(5) of this section 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 Uniform Commercial Code Amendments (2022). (e) To the extent subsections (a) and (b) of this section provide that the local law of
  the controllable electronic record’s jurisdiction governs a matter covered by this
  article, that law governs even if the matter or a transaction to which the matter
  relates does not bear any relation to the controllable electronic record’s jurisdiction. (f) The rights acquired under section 12—104 of this title by a purchaser or qualifying purchaser are governed by the law applicable under this
  section at the time of purchase. (Added 2025, No. 17, § 10, eff. July 1, 2025.)