NRS 104.7106
Control of electronic document of title.


1.

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 whom 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 whom the document was issued; or

(2)

If the authoritative copy indicates that the document has been transferred, the person to whom 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; and

(f)

Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.
Part 2
Warehouse Receipts: Special Provisions

Source: Section 104.7106 — Control of electronic document of title., https://www.­leg.­state.­nv.­us/NRS/NRS-104.­html#NRS104Sec7106.

Last Updated

Feb. 5, 2021

§ 104.7106’s source at nv​.us