§ 34.1-7-105 — Reissuance in alternative medium

(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:
(i) The person entitled under the electronic document
surrenders control of the document to the issuer; and
(ii) 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:
(i) The electronic document ceases to have any effect
or validity; and
(ii) 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:
(i) The person entitled under the tangible document
surrenders possession of the document to the issuer; and
(ii) 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:
(i) The tangible document ceases to have any effect
or validity; and
(ii) 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.