Section 554.7106 - [Effective Until 7/1/2024] Control of electronic document of title1. 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.2. A system satisfies subsection 1, 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: a. a single authoritative copy of the document exists which is unique, identifiable, and, except as otherwise provided in paragraphs "d", "e", and "f ", unalterable;b. the authoritative copy identifies the person asserting control as:(1) the person to which the document was issued; or(2) if the authoritative copy indicates that the document has been transferred, the person to which the document was most recently transferred;c. the authoritative copy is communicated to and maintained by the person asserting control or its designated custodian;d. copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the person asserting control;e. each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; andf. any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.2007 Acts, ch 30, §6, 45, 46Referred to in §554.2103, 554.4104, 554.9102 , 554.9203, 554.9207, 554.9314 , 554.9601
This section is set out more than once due to postponed, multiple, or conflicting amendments.