Texas Business & Commerce Code
§ 322.016 — TRANSFERABLE RECORDS
BC § 322.016Title 10. USE OF TELECOMMUNICATIONS · Part B. ELECTRONIC COMMUNICATIONS · Ch. 322. UNIFORM ELECTRONIC TRANSACTIONS ACT
Statute text
View on source(a)In this section, "transferable record" means an electronic record that:
(1)would be a note under Chapter 3, or a document under Chapter 7, if the electronic record were in writing; and
(2)the issuer of the electronic record expressly has agreed is a transferable record.
(b)A person has control of a transferable record if a system employed for evidencing the transfer of interests in the transferable record reliably establishes that person as the person to which the transferable record was issued or transferred.
(c)A system satisfies Subsection (b), and a person is deemed to have control of a transferable record, if the transferable record is created, stored, and assigned in such a manner that:
(1)a single authoritative copy of the transferable record exists which is unique, identifiable, and, except as otherwise provided in Subdivisions (4), (5), and (6), unalterable;
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Legislative history
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.