New Mexico § 55-7-105 Reissuance in alternative medium

New Mexico Statutes

§ 55-7-105 — Reissuance in alternative medium

New Mexico § 55-7-105

Ch. 55Uniform Commercial Code

Art. 7Documents of Title

This text of New Mexico § 55-7-105 (Reissuance in alternative medium) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 55-7-105 (2026).

Text

(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 Subsection (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

Free access — add to your briefcase to read the full text and ask questions with AI

(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 Subsection (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 Subsection (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.