Improved
Trust agreement v3.7
5 months ago by ReadMe API
- UCC Article 12 adopted as the primary framework. Property tokens are designated controllable electronic records, which clarifies for lenders and traders that whoever has "control" of a token has defined rights in it, that good-faith buyers can take free of competing claims, and that smart contracts can serve as control mechanisms. This gives lenders a clearer basis for perfected security interests when a token is used as collateral, with Article 8 retained as a supplementary framework for tokens held through securities intermediaries.
