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(810 ILCS 5/12-105) Sec. 12-105. Control of controllable electronic record. (a) General rule: control of controllable electronic record. A person has control of a controllable electronic record if the electronic record, a record attached to or logically associated with the electronic record, or a system in which the electronic record is recorded: (1) gives the person: (A) power to avail itself of substantially all |
| the benefit from the electronic record; and
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(B) exclusive power, subject to subsection (b),
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(i) prevent others from availing themselves
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| of substantially all the benefit from the electronic record; and
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(ii) transfer control of the electronic
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| record to another person or cause another person to obtain control of another controllable electronic record as a result of the transfer of the electronic record; and
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(2) enables the person readily to identify itself in
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| any way, including by name, identifying number, cryptographic key, office, or account number, as having the powers specified in paragraph (1).
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(b) Meaning of exclusive. Subject to subsection (c), a power is exclusive under subsection (a)(1)(B)(i) and (ii) even if:
(1) the controllable electronic record, a record
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| attached to or logically associated with the electronic record, or a system in which the electronic record is recorded limits the use of the electronic record or has a protocol programmed to cause a change, including a transfer or loss of control or a modification of benefits afforded by the electronic record; or
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(2) the power is shared with another person.
(c) When power not shared with another person. A power of a person is not shared with another person under subsection (b)(2) and the person's power is not exclusive if:
(1) the person can exercise the power only if the
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| power also is exercised by the other person; and
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(2) the other person:
(A) can exercise the power without exercise of
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| the power by the person; or
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(B) is the transferor to the person of an
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| interest in the controllable electronic record or a controllable account or controllable payment intangible evidenced by the controllable electronic record.
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(d) Presumption of exclusivity of certain powers. If a person has the powers specified in subsection (a)(1)(B)(i) and (ii), the powers are presumed to be exclusive.
(e) Control through another person. A person has control of a controllable electronic record if another person, other than the transferor to the person of an interest in the controllable electronic record or a controllable account or controllable payment intangible evidenced by the controllable electronic record:
(1) has control of the electronic record and
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| acknowledges that it has control on behalf of the person; or
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(2) obtains control of the electronic record after
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| having acknowledged that it will obtain control of the electronic record on behalf of the person.
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(f) No requirement to acknowledge. A person that has control under this Section is not required to acknowledge that it has control on behalf of another person.
(g) No duties or confirmation. If a person acknowledges that it has or will obtain control on behalf of another person, unless the person otherwise agrees or law other than this Article or Article 9 otherwise provides, the person does not owe any duty to the other person and is not required to confirm the acknowledgment to any other person.
(Source: P.A. 103-1036, eff. 1-1-25.)
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