Incorporates 2022 Uniform Law Commission amendments to the Uniform Commercial Code for emerging technologies.

The bill incorporates the 2022 Uniform Law Commission recommended amendments to the Uniform Commercial Code to address emerging technologies. It updates rules for commercial transactions involving virtual currencies, distributed ledger technologies, artificial intelligence, and other technological developments. The bill defines terms like "controllable electronic record" and "electronic money," and outlines provisions for control, transfer, and notification of disposition of these records.

Incorporates 2022 Uniform Law Commission amendments to the Uniform Commercial Code for emerging technologies.

The bill incorporates the 2022 Uniform Law Commission recommended amendments to the Uniform Commercial Code to address emerging technologies. It updates rules for commercial transactions involving virtual currencies, distributed ledger technologies, artificial intelligence, and other technological developments. The bill defines terms like "controllable electronic record" and "electronic money," and outlines provisions for control, transfer, and notification of disposition of these records.