NY A10579

Modernizes the Uniform Commercial Code to address emerging technologies including electronic money, controllable electronic records, and blockchain-based transactions.

Replaces "authenticated" with "signed" throughout the code and expands the definition of "sign" to include electronic symbols, sounds, and processes rather than requiring tangible signatures.

Creates new Article 12 establishing rules for "controllable electronic records" (digital assets that can be controlled electronically), including definitions, control mechanisms, and governing law provisions.

Modifies Article 9 (secured transactions) to address electronic money, controllable accounts, controllable payment intangibles, and new methods of perfecting security interests in digital assets.

Updates definitions and provisions across multiple articles to accommodate hybrid transactions mixing goods sales with services, leases, or licenses, and clarifies rules for electronic documents of title and digital transactions.