MA H1282

Amends Massachusetts Chapter 106 (Uniform Commercial Code) to modernize terminology, replacing "writing" with "record" and "authenticated" with "signed" throughout multiple articles to accommodate electronic transactions

Creates new Article 12 governing "controllable electronic records," establishing rules for control, transfer, and priority of security interests in digital assets including controllable accounts and controllable payment intangibles

Adds new definition of "electronic money" as money in electronic form, with separate rules for perfecting security interests in electronic money versus tangible money

Updates Article 9 (Secured Transactions) to address security interests in electronic assets, including new provisions for control of electronic chattel paper, electronic documents of title, and controllable electronic records

Includes transitional provisions (Article A) with an adjustment date of July 1, 2025 or one year after enactment, and sets effective date of January 1, 2026