Amends Massachusetts Uniform Commercial Code to update definitions and provisions for electronic records and digital transactions.

This bill amends the Massachusetts Uniform Commercial Code to update definitions and provisions related to electronic records and digital transactions. It modifies the definition of "record" to include information stored in electronic or other mediums. It also updates the rules for perfection and priority of security interests in various types of electronic records, such as controllable electronic records, accounts, and payment intangibles. The bill specifies that the local law of the jurisdiction where the debtor is located governs perfection of security interests in chattel paper by filing.

Amends Massachusetts Uniform Commercial Code to update definitions and provisions for electronic records and digital transactions.

This bill amends the Massachusetts Uniform Commercial Code to update definitions and provisions related to electronic records and digital transactions. It modifies the definition of "record" to include information stored in electronic or other mediums. It also updates the rules for perfection and priority of security interests in various types of electronic records, such as controllable electronic records, accounts, and payment intangibles. The bill specifies that the local law of the jurisdiction where the debtor is located governs perfection of security interests in chattel paper by filing.