MA S684

Amends Massachusetts Uniform Commercial Code (Chapter 106) to accommodate digital and electronic transactions, updating definitions for "electronic," "money," "sign," and "delivery" to include electronic formats and processes

Creates new Article 12 governing "controllable electronic records" (digital assets stored electronically that can be subject to control), establishing rules for control, transfer, and priority of security interests in these records

Updates Article 9 (Secured Transactions) to add new categories including "controllable accounts," "controllable payment intangibles," and "electronic money," with rules for perfecting security interests through control rather than just filing

Modernizes terminology throughout the UCC by replacing "writing" with "record" and "authenticated" with "signed" to recognize electronic equivalents of traditional paper documents

Takes effect January 1, 2027, with transitional provisions (Article A) preserving validity of pre-existing transactions and establishing adjustment date of July 1, 2025 or one year after effective date for priority rules