Updates North Carolina's Uniform Commercial Code to address emerging technologies and electronic records.

North Carolina S117 updates the Uniform Commercial Code (UCC) to include provisions for controllable electronic records, which are digital records that can be controlled and transferred. The bill defines terms like "controllable electronic record" and "controllable payment intangible," and it outlines rules for their creation, transfer, and enforcement. It also modifies existing UCC sections to ensure they apply to these new types of records.

Updates North Carolina's Uniform Commercial Code to address emerging technologies and electronic records.

North Carolina S117 updates the Uniform Commercial Code (UCC) to include provisions for controllable electronic records, which are digital records that can be controlled and transferred. The bill defines terms like "controllable electronic record" and "controllable payment intangible," and it outlines rules for their creation, transfer, and enforcement. It also modifies existing UCC sections to ensure they apply to these new types of records.