HRS §490:9-107.5
When a lender is considered to control digital records or accounts
This section says when a lender is treated as having control over certain digital records or accounts. If the lender controls the electronic record, they also control the related account or payment right. It is a short rule about control in secured transactions.
borrowers
The statute, as written — Control of controllable electronic record, controllable account, or controllable payment intangible
(a) A secured party shall be deemed to have control of a controllable electronic record as provided in section 490:12-105. (b) A secured party shall be deemed to have control of a controllable account or controllable payment intangible if the secured party has control of the controllable electronic record that evidences the controllable account or controllable payment intangible.
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