{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-105.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-105.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-105.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-105.1.html"}],"law_id":59549,"edition_id":1,"section_id":59549,"structure_id":15319,"section_number":"8.9A-105.1","catch_line":"Control of electronic money","history":"2024, c. 652.","full_text":"a\n\nGeneral rule: control of electronic money. A person has control of electronic money if:1\n\nthe electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded gives the person:A\n\npower to avail itself of substantially all the benefit from the electronic money; andB\n\nexclusive power, subject to subsection (b), to:i\n\nprevent others from availing themselves of substantially all the benefit from the electronic money; andii\n\ntransfer control of the electronic money to another person or cause another person to obtain control of other electronic money as a result of the transfer of the electronic money; and2\n\nthe electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded enables the person readily to identify itself in any way, including by name, identifying number, cryptographic key, office, or account number, as having the powers under paragraph (1).b\n\nMeaning of exclusive. Subject to subsection (c), a power is exclusive under subsection (a)(1)(B)(i) and (ii) even if:1\n\nthe electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded limits the use of the electronic money or has a protocol programmed to cause a change, including a transfer or loss of control; or2\n\nthe power is shared with another person.c\n\nWhen power not shared with another person. A power of a person is not shared with another person under subsection (b)(2) and the person’s power is not exclusive if:1\n\nthe person can exercise the power only if the power also is exercised by the other person; and2\n\nthe other person:A\n\ncan exercise the power without exercise of the power by the person; orB\n\nis the transferor to the person of an interest in the electronic money.d\n\nPresumption of exclusivity of certain powers. If a person has the powers specified in subsection (a)(1)(B)(i) and (ii), the powers are presumed to be exclusive.e\n\nControl through another person. A person has control of electronic money if another person, other than the transferor to the person of an interest in the electronic money:1\n\nhas control of the electronic money and acknowledges that it has control on behalf of the person; or2\n\nobtains control of the electronic money after having acknowledged that it will obtain control of the electronic money on behalf of the person.","order_by":null,"text":{"0":{"id":218131,"text":"General rule: control of electronic money. A person has control of electronic money if:","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":218132,"text":"the electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded gives the person:","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"A"},"2":{"id":218133,"text":"power to avail itself of substantially all the benefit from the electronic money; and","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"a1","next_prefix":"B"},"3":{"id":218134,"text":"exclusive power, subject to subsection (b), to:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"i"},"4":{"id":218135,"text":"prevent others from availing themselves of substantially all the benefit from the electronic money; and","type":"section","prefixes":["i"],"prefix":"i","entire_prefix":"i","prefix_anchor":"i","level":1,"prior_prefix":"B","next_prefix":"iii"},"5":{"id":218136,"text":"transfer control of the electronic money to another person or cause another person to obtain control of other electronic money as a result of the transfer of the electronic money; and","type":"section","prefixes":["i","ii"],"prefix":"ii","entire_prefix":"iii","prefix_anchor":"iii","level":2,"prior_prefix":"i","next_prefix":"i2"},"6":{"id":218137,"text":"the electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded enables the person readily to identify itself in any way, including by name, identifying number, cryptographic key, office, or account number, as having the powers under paragraph (1).","type":"section","prefixes":["i","2"],"prefix":"2","entire_prefix":"i2","prefix_anchor":"i2","level":2,"prior_prefix":"iii","next_prefix":"b"},"7":{"id":218138,"text":"Meaning of exclusive. Subject to subsection (c), a power is exclusive under subsection (a)(1)(B)(i) and (ii) even if:","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"i2","next_prefix":"b1"},"8":{"id":218139,"text":"the electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded limits the use of the electronic money or has a protocol programmed to cause a change, including a transfer or loss of control; or","type":"section","prefixes":["b","1"],"prefix":"1","entire_prefix":"b1","prefix_anchor":"b1","level":2,"prior_prefix":"b","next_prefix":"b2"},"9":{"id":218140,"text":"the power is shared with another person.","type":"section","prefixes":["b","2"],"prefix":"2","entire_prefix":"b2","prefix_anchor":"b2","level":2,"prior_prefix":"b1","next_prefix":"c"},"10":{"id":218141,"text":"When power not shared with another person. A power of a person is not shared with another person under subsection (b)(2) and the person’s power is not exclusive if:","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b2","next_prefix":"c1"},"11":{"id":218142,"text":"the person can exercise the power only if the power also is exercised by the other person; and","type":"section","prefixes":["c","1"],"prefix":"1","entire_prefix":"c1","prefix_anchor":"c1","level":2,"prior_prefix":"c","next_prefix":"c2"},"12":{"id":218143,"text":"the other person:","type":"section","prefixes":["c","2"],"prefix":"2","entire_prefix":"c2","prefix_anchor":"c2","level":2,"prior_prefix":"c1","next_prefix":"A"},"13":{"id":218144,"text":"can exercise the power without exercise of the power by the person; or","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"prior_prefix":"c2","next_prefix":"B"},"14":{"id":218145,"text":"is the transferor to the person of an interest in the electronic money.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"d"},"15":{"id":218146,"text":"Presumption of exclusivity of certain powers. If a person has the powers specified in subsection (a)(1)(B)(i) and (ii), the powers are presumed to be exclusive.","type":"section","prefixes":["d"],"prefix":"d","entire_prefix":"d","prefix_anchor":"d","level":1,"prior_prefix":"B","next_prefix":"e"},"16":{"id":218147,"text":"Control through another person. A person has control of electronic money if another person, other than the transferor to the person of an interest in the electronic money:","type":"section","prefixes":["e"],"prefix":"e","entire_prefix":"e","prefix_anchor":"e","level":1,"prior_prefix":"d","next_prefix":"e1"},"17":{"id":218148,"text":"has control of the electronic money and acknowledges that it has control on behalf of the person; or","type":"section","prefixes":["e","1"],"prefix":"1","entire_prefix":"e1","prefix_anchor":"e1","level":2,"prior_prefix":"e","next_prefix":"e2"},"18":{"id":218149,"text":"obtains control of the electronic money after having acknowledged that it will obtain control of the electronic money on behalf of the person.","type":"section","prefixes":["e","2"],"prefix":"2","entire_prefix":"e2","prefix_anchor":"e2","level":2,"prior_prefix":"e1"}},"ancestry":[{"id":15319,"edition_id":1,"name":"Short Title, Definitions and General Concepts","identifier":"1","label":"subpart","depth":3,"order_by":1,"parent_id":15318,"metadata":{},"date_created":"2026-06-26 03:53:55","date_modified":"2026-06-26 03:53:55","permalink":{"id":283837,"object_type":"structure","relational_id":15319,"identifier":"1","token":"8.9A\/1\/1","url":"\/8.9A\/1\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":15318,"edition_id":1,"name":"General Provisions","identifier":"1","label":"part","depth":2,"order_by":1,"parent_id":13277,"metadata":{},"date_created":"2026-06-26 03:53:55","date_modified":"2026-06-26 03:53:55","permalink":{"id":283835,"object_type":"structure","relational_id":15318,"identifier":"1","token":"8.9A\/1","url":"\/8.9A\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13277,"edition_id":1,"name":"Commercial Code \u2014 Secured Transactions","identifier":"8.9A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:33","date_modified":"2026-06-26 03:44:33","permalink":{"id":283833,"object_type":"structure","relational_id":13277,"identifier":"8.9A","token":"8.9A","url":"\/8.9A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":58325,"structure_id":15319,"section_number":"8.9A-101","catch_line":"Short title","url":"\/8.9A-101\/","token":"8.9A\/1\/1\/8.9A-101","metadata":false},{"id":58431,"structure_id":15319,"section_number":"8.9A-102","catch_line":"Definitions and index of definitions","url":"\/8.9A-102\/","token":"8.9A\/1\/1\/8.9A-102","metadata":false},{"id":74460,"structure_id":15319,"section_number":"8.9A-103","catch_line":"Purchase-money security interest; application of payments; burden of establishing","url":"\/8.9A-103\/","token":"8.9A\/1\/1\/8.9A-103","metadata":false},{"id":62491,"structure_id":15319,"section_number":"8.9A-104","catch_line":"Control of deposit account","url":"\/8.9A-104\/","token":"8.9A\/1\/1\/8.9A-104","metadata":false},{"id":84613,"structure_id":15319,"section_number":"8.9A-105","catch_line":"Control of electronic copy of record evidencing chattel paper","url":"\/8.9A-105\/","token":"8.9A\/1\/1\/8.9A-105","metadata":false},{"id":59549,"structure_id":15319,"section_number":"8.9A-105.1","catch_line":"Control of electronic money","url":"\/8.9A-105.1\/","token":"8.9A\/1\/1\/8.9A-105.1","metadata":false},{"id":81668,"structure_id":15319,"section_number":"8.9A-106","catch_line":"Control of investment property","url":"\/8.9A-106\/","token":"8.9A\/1\/1\/8.9A-106","metadata":false},{"id":58690,"structure_id":15319,"section_number":"8.9A-107","catch_line":"Control of letter-of-credit right","url":"\/8.9A-107\/","token":"8.9A\/1\/1\/8.9A-107","metadata":false},{"id":76599,"structure_id":15319,"section_number":"8.9A-107.1","catch_line":"Control of controllable electronic record, controllable account, or controllable payment intangible","url":"\/8.9A-107.1\/","token":"8.9A\/1\/1\/8.9A-107.1","metadata":false},{"id":77801,"structure_id":15319,"section_number":"8.9A-107.2","catch_line":"No requirement to acknowledge or confirm; no duties","url":"\/8.9A-107.2\/","token":"8.9A\/1\/1\/8.9A-107.2","metadata":false},{"id":82128,"structure_id":15319,"section_number":"8.9A-108","catch_line":"Sufficiency of description","url":"\/8.9A-108\/","token":"8.9A\/1\/1\/8.9A-108","metadata":false}],"previous_section":{"id":84613,"structure_id":15319,"section_number":"8.9A-105","catch_line":"Control of electronic copy of record evidencing chattel paper","url":"\/8.9A-105\/","token":"8.9A\/1\/1\/8.9A-105","metadata":false},"next_section":{"id":81668,"structure_id":15319,"section_number":"8.9A-106","catch_line":"Control of investment property","url":"\/8.9A-106\/","token":"8.9A\/1\/1\/8.9A-106","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-105.1\/","history_text":"

This law was first created in 2024. The record of its establishment is cataloged in chapter 652<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":77801,"section_number":"8.9A-107.2","catch_line":"No requirement to acknowledge or confirm; no duties","order_by":null,"url":"\/8.9A-107.2\/"},{"id":74128,"section_number":"8.9A-203","catch_line":"Attachment and enforceability of security interest; proceeds, supporting obligations; formal requisites","order_by":null,"url":"\/8.9A-203\/"},{"id":62908,"section_number":"8.9A-207","catch_line":"Rights and duties of secured party having possession or control of collateral","order_by":null,"url":"\/8.9A-207\/"},{"id":64267,"section_number":"8.9A-208","catch_line":"Additional duties of secured party having control of collateral","order_by":null,"url":"\/8.9A-208\/"},{"id":85234,"section_number":"8.9A-314","catch_line":"Perfection by control","order_by":null,"url":"\/8.9A-314\/"},{"id":87391,"section_number":"8.9A-601","catch_line":"Rights after default; judicial enforcement, consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes","order_by":null,"url":"\/8.9A-601\/"}],"refers_to":false,"permalink":{"id":283859,"object_type":"law","relational_id":59549,"identifier":"8.9A-105.1","token":"8.9A\/1\/1\/8.9A-105.1","url":"\/8.9A-105.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-105.1\/","token":"8.9A\/1\/1\/8.9A-105.1","dublin_core":{"Title":"Control of electronic money","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-105.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> General rule: control of electronic money. A person has control of electronic money if: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> the electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded gives the person: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> power to avail itself of substantially all the benefit from the electronic money; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> exclusive power, subject to subsection (b), to: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

i.<\/span> prevent others from availing themselves of substantially all the benefit from the electronic money; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

ii.<\/span> transfer control of the electronic money to another person or cause another person to obtain control of other electronic money as a result of the transfer of the electronic money; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded enables the person readily to identify itself in any way, including by name, identifying number, cryptographic key, office, or account number, as having the powers under paragraph (1). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Meaning of exclusive. Subject to subsection (c), a power is exclusive under subsection (a)(1)(B)(i) and (ii) even if: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> the electronic money, a record attached to or logically associated with the electronic money, or a system in which the electronic money is recorded limits the use of the electronic money or has a protocol programmed to cause a change, including a transfer or loss of control; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the power is shared with another person. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> When power not shared with another person. A power of a person is not shared with another person under subsection (b)(2) and the person’s power is not exclusive if: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> the person can exercise the power only if the power also is exercised by the other person; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the other person: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

A.<\/span> can exercise the power without exercise of the power by the person; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> is the transferor to the person of an interest in the electronic money. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

d.<\/span> Presumption<\/span> of exclusivity of certain powers. If a person has the powers specified in subsection (a)(1)(B)(i) and (ii), the powers are presumed to be exclusive. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

e.<\/span> Control through another person. A person has control of electronic money if another person, other than the transferor to the person of an interest in the electronic money: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> has control of the electronic money and acknowledges that it has control on behalf of the person; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> obtains control of the electronic money after having acknowledged that it will obtain control of the electronic money on behalf of the person. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONTROL OF ELECTRONIC MONEY (\u00a7 8.9A-105.1)\n\na. General rule: control of electronic money. A person has control of electronic\nmoney if:\n\n 1. the electronic money, a record attached to or logically associated with the\n electronic money, or a system in which the electronic money is recorded gives\n the person:\n\nA. power to avail itself of substantially all the benefit from the electronic\nmoney; and\n\nB. exclusive power, subject to subsection (b), to:\n\ni. prevent others from availing themselves of substantially all the benefit from\nthe electronic money; and\n\n ii. transfer control of the electronic money to another person or cause\n another person to obtain control of other electronic money as a result of the\n transfer of the electronic money; and\n\n 2. the electronic money, a record attached to or logically associated with the\n electronic money, or a system in which the electronic money is recorded\n enables the person readily to identify itself in any way, including by name,\n identifying number, cryptographic key, office, or account number, as having\n the powers under paragraph (1).\n\nb. Meaning of exclusive. Subject to subsection (c), a power is exclusive under\nsubsection (a)(1)(B)(i) and (ii) even if:\n\n 1. the electronic money, a record attached to or logically associated with the\n electronic money, or a system in which the electronic money is recorded limits\n the use of the electronic money or has a protocol programmed to cause a\n change, including a transfer or loss of control; or\n\n 2. the power is shared with another person.\n\nc. When power not shared with another person. A power of a person is not shared\nwith another person under subsection (b)(2) and the person’s power is not\nexclusive if:\n\n 1. the person can exercise the power only if the power also is exercised by\n the other person; and\n\n 2. the other person:\n\nA. can exercise the power without exercise of the power by the person; or\n\nB. is the transferor to the person of an interest in the electronic money.\n\nd. Presumption of exclusivity of certain powers. If a person has the powers\nspecified in subsection (a)(1)(B)(i) and (ii), the powers are presumed to be\nexclusive.\n\ne. Control through another person. A person has control of electronic money if\nanother person, other than the transferor to the person of an interest in the\nelectronic money:\n\n 1. has control of the electronic money and acknowledges that it has control on\n behalf of the person; or\n\n 2. obtains control of the electronic money after having acknowledged that it\n will obtain control of the electronic money on behalf of the person.\n\nHISTORY: 2024, c. 652.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}