Texas Business & Commerce Code

§ 7.106 — CONTROL OF ELECTRONIC DOCUMENT OF TITLE

BC § 7.106Title 1. UNIFORM COMMERCIAL CODE · Ch. 7. DOCUMENTS OF TITLE · Art. A. GENERAL PROVISIONS

Statute text

(a)A person has control of an electronic document of title if a system employed for evidencing the transfer of interests in the electronic document reliably establishes that person as the person to which the electronic document was issued or transferred.

(b)A system satisfies Subsection (a), and a person is deemed to have control of an electronic document of title, if the document is created, stored, and assigned in such a manner that:

(1)a single authoritative copy of the document exists which is unique, identifiable, and, except as otherwise provided in Subdivisions (4), (5), and (6), unalterable;

(2)the authoritative copy identifies the person asserting control as:

(A)the person to which the document was issued; or

(B)if the authoritative copy indicates that the document has been transferred, the person to which the document was most recently transferred;

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Legislative history

Acts 2005, 79th Leg., Ch. 122 (S.B. 1593), Sec. 1, eff. September 1, 2005.