Corpus

Control of electronic chattel paper.

Miss. Code Ann. § 75-9-105
in effect
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A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned. A system satisfies subsection (a) if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that: A single authoritative copy of the record or records exists which is unique, identifiable and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable; The authoritative copy identifies the secured party as the assignee of the record or records; The authoritative copy is communicated to and maintained by the secured party or its designated custodian; Copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the secured party; 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 Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.