Montana SB426 revises the Uniform Commercial Code to modernize terminology and address digital assets.
Montana SB426 revises the Uniform Commercial Code to modernize terminology and address digital assets, including cryptocurrency. It updates definitions and provisions to reflect the digital age, such as defining "controllable electronic record" and "controllable payment intangible." The bill also prohibits the use of central bank digital currency unless specifically approved by Montana law. It amends various sections to clarify rules on perfection, priority, and the rights of purchasers and assignees.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.