Current with legislation from 2024 received as of August 15, 2024.
Section 1307.105 - Reissuance in alternative medium - UCC 7-105(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 division (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 division (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.Added by 129th General Assembly, HB 9, §1, eff. 6/29/2011.