Bill
SB 154
Maryland adopts UCC Article 12 to create legal rules for ownership, transfer, and control of digital assets and electronic records.
SB 154 adopts Maryland's version of the Uniform Commercial Code (UCC) Article 12, which creates a legal framework for "controllable electronic records"—digital assets that can be transferred, controlled, and secured similar to physical property. This legislation establishes rules for ownership, transfers, security interests, and dispute resolution for these emerging digital assets, aligning Maryland with a model law developed by the National Conference of Commissioners on Uniform State Laws.
As digital assets, cryptocurrencies, tokenized securities, and other electronic records become economically significant, businesses and courts need clear legal rules for handling them. This bill provides certainty for transactions involving these assets by defining who controls them, how they can be transferred, what happens in bankruptcy, and how lenders can take security interests. Without such clarity, Maryland businesses would operate under legal ambiguity while other states adopt the uniform standard.
Compiled from official sources — confirm details with the bill’s official record.
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