Colorado § 4-12-105 Control of controllable electronic record

Colorado Statutes

§ 4-12-105 — Control of controllable electronic record

Colorado § 4-12-105

Title 04Uniform

Art.Controllable Electronic Records

This text of Colorado § 4-12-105 (Control of controllable electronic record) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 4-12-105 (2026).

Text

(a)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

(B)Exclusive power, subject to subsection (b) of this section, to:

(i)Prevent others from availing themselves of substantially all the benefit from the electronic record; and

(ii)Transfer control of the electronic 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

(2)Enables the person readily to identify itself in any way, including by

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(a) 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

(B) Exclusive power, subject to subsection (b) of this section, to:

(i) Prevent others from availing themselves of substantially all the benefit
from the electronic record; and

(ii) Transfer control of the electronic 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

(2) Enables the person readily to identify itself in any way, including by
name, identifying number, cryptographic key, office, or account number, as having
the powers specified in subsection (a)(1) of this section.

(b) Subject to subsection (c) of this section, a power is exclusive under
subsections (a)(1)(B)(i) and (a)(1)(B)(ii) of this section even if:

(1) The controllable electronic record, a record 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

(2) The power is shared with another person.

(c) A power of a person is not shared with another person under subsection
(b)(2) of this section and the person's power is not exclusive if:

(1) The person can exercise the power only if the power also is exercised by
the other person; and

(2) The other person:

(A) Can exercise the power without exercise of the power by the person; or

(B) Is 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.

(d) If a person has the powers specified in subsections (a)(1)(B)(i) and
(a)(1)(B)(ii) of this section, the powers are presumed to be exclusive.

(e) 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 acknowledges that it has control
on behalf of the person; or

(2) Obtains control of the electronic record after having acknowledged that
it will obtain control of the electronic record on behalf of the person.

(f) A person that has control under this section is not required to
acknowledge that it has control on behalf of another person.

(g) 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 12
or article 9 of this title 4 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.