SB1859

SB1859 amends Tennessee Code Annotated, Title 47, relative to the Uniform Commercial Code.

SB1859 amends Tennessee Code Annotated, Title 47, relative to the Uniform Commercial Code. It modifies definitions, clarifies control and perfection of security interests, and updates provisions for electronic records and electronic money. The bill specifies conditions for control of electronic records, defines terms like "controllable electronic record" and "electronic money," and outlines rules for the perfection and priority of security interests in various types of collateral, including electronic records and electronic money.