TN HB1549

Adopts the 2022 Uniform Commercial Code Amendments to Tennessee law, creating a new Chapter 6 governing "controllable electronic records" including digital assets, virtual currencies, and other electronic property that can be subjected to control

Updates definitions and terminology throughout the UCC, replacing "writing" with "record" and "authenticated" with "signed" to accommodate electronic transactions, and adds new definitions for "electronic money," "controllable accounts," and "controllable payment intangibles"

Establishes rules for determining control, perfection, and priority of security interests in electronic assets, including provisions for how parties can obtain and transfer control of controllable electronic records

Creates choice-of-law rules for controllable electronic records, defaulting to the District of Columbia if no jurisdiction is specified in the record or system

Includes transitional provisions with an adjustment date of July 1, 2025 (or one year after effective date) to allow existing security interests to comply with new requirements, and explicitly states the chapter must not be construed to support a national digital currency; takes effect July 1, 2026