This text of New York § 7-105 (Reissuance in Alternative Medium) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Section 7--105. Reissuance in Alternative Medium.\n (a) Upon request of a person entitled under an electronic document of\ntitle, the issuer of the electronic document may issue a tangible\ndocument of title as a substitute for the electronic document if:\n (1) the person entitled under the electronic document surrenders\ncontrol of the document to the issuer; and\n (2) the tangible document when issued contains a statement that it is\nissued in substitution for the electronic document.\n (b) Upon issuance of a tangible document of title in substitution for\nan electronic document of title in accordance with subsection (a):\n (1) the electronic document ceases to have any effect or validity; and\n (2) the person that procured issuance of the tangible document\nwarrants to all subsequ
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Section 7--105. Reissuance in Alternative Medium.\n (a) Upon request of a person entitled under an electronic document of\ntitle, the issuer of the electronic document may issue a tangible\ndocument of title as a substitute for the electronic document if:\n (1) the person entitled under the electronic document surrenders\ncontrol of the document to the issuer; and\n (2) the tangible document when issued contains a statement that it is\nissued in substitution for the electronic document.\n (b) Upon issuance of a tangible document of title in substitution for\nan electronic document of title in accordance with subsection (a):\n (1) the electronic document ceases to have any effect or validity; and\n (2) the person that procured issuance of the tangible document\nwarrants to all subsequent persons entitled under the tangible document\nthat the warrantor was a person entitled under the electronic document\nwhen the warrantor surrendered control of the electronic document to the\nissuer.\n (c) Upon request of a person entitled under a tangible document of\ntitle, the issuer of the tangible document may issue an electronic\ndocument of title as a substitute for the tangible document if:\n (1) the person entitled under the tangible document surrenders\npossession of the document to the issuer; and\n (2) the electronic document when issued contains a statement that it\nis issued in substitution for the tangible document.\n (d) Upon issuance of an electronic document of title in substitution\nfor a tangible document of title in accordance with subsection (c):\n (1) the tangible document ceases to have any effect or validity; and\n (2) the person that procured issuance of the electronic document\nwarrants to all subsequent persons entitled under the electronic\ndocument that the warrantor was a person entitled under the tangible\ndocument when the warrantor surrendered possession of the tangible\ndocument to the issuer.\n