12-105. Control of controllable electronic record.

(a) A person has "control" of a controllable electronic record if:

(1) the following conditions are met:

(A) the controllable electronic record or the system in which it is recorded, if any, gives the person:

(i) the power to derive substantially all the benefit from the controllable electronic record;

(ii) subject to subsection (b), the exclusive power to prevent others from deriving substantially all the benefit from the controllable electronic record; and

(iii) subject to subsection (b), the exclusive power to transfer control of the controllable electronic record to another person or cause another person to obtain control of a controllable electronic record that derives from the controllable electronic record; and

(B) the controllable electronic record, a record attached to or logically associated with the controllable electronic record, or the system in which the controllable electronic record is recorded, if any, enables the person to readily identify itself as having the powers specified in subparagraph (A); or

(2) another person obtains control of the controllable electronic record on behalf of the person, or having previously obtained control of the controllable electronic record, acknowledges that it has control on behalf of the person.

(b) A power specified in subparagraph (a)(1)(A)(ii) or (a)(1)(A)(iii) can be "exclusive," even if:

(1) the controllable electronic record or the system in which it is recorded, if any, limits the use to which the controllable electronic record may be put or has protocols that are programmed to result in a transfer of control; and

(2) the person has agreed to share the power with another person.

(c) For the purposes of subparagraph (a)(1)(B), a person may be identified in any way, including by name, identifying number, cryptographic key, office, or account number.

Source:Laws 2021, LB649, ยง 63.
Operative Date: July 1, 2022