(a) Control under Section 12-105. A secured party has control of a controllable electronic record as provided in Section 12-105. (b) Control of controllable account and controllable payment intangible. A secured party has control of a controllable account or controllable payment intangible if the secured party has control of the controllable electronic record that evidences the controllable account or controllable payment intangible.
810 ILCS 5/9-107A
Control of controllable electronic record, controllable account, or controllable payment intangible
Known as the Uniform Commercial Code
The act spans §§ 810-5-1-101 to 810-5-9-150 (132 sections).
P.A. 103-1036, eff. 1-1-25.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.