Sec. 42a-7-105. Reissuance in alternative medium.
Sec. 42a-7-105. Reissuance in alternative medium. (a) Upon request of a person
entitled under an electronic document of title, the issuer of the electronic document may
issue a tangible document of title as a substitute for the electronic document if:
(1) The person entitled under the electronic document surrenders control of the
document to the issuer; and
(2) The tangible document when issued contains a statement that it is issued in
substitution for the electronic document.
(b) Upon issuance of a tangible document of title in substitution for an electronic
document of title in accordance with subsection (a) of this section:
(1) The electronic document ceases to have any effect or validity; and
(2) The person that procured issuance of the tangible document warrants to all subsequent persons entitled under the tangible document that the warrantor was a person
entitled under the electronic document when the warrantor surrendered control of the
electronic document to the issuer.
(c) Upon request of a person entitled under a tangible document of title, the issuer
of the tangible document may issue an electronic document of title as a substitute for
the tangible document if:
(1) The person entitled under the tangible document surrenders possession of the
document to the issuer; and
(2) The electronic document when issued contains a statement that it is issued in
substitution for the tangible document.
(d) Upon issuance of an electronic document of title in substitution for a tangible
document of title in accordance with subsection (c) of this section:
(1) The tangible document ceases to have any effect or validity; and
(2) The person that procured issuance of the electronic document warrants to all
subsequent persons entitled under the electronic document that the warrantor was a
person entitled under the tangible document when the warrantor surrendered possession
of the tangible document to the issuer.
(1959, P.A. 133, S. 7-105; P.A. 04-64, S. 5.)
History: P.A. 04-64 amended section to adopt the 2003 Revision of Uniform Commercial Code Article 7-Documents
of Title.