2007 Minnesota Statutes

336.7-105 MS 2002 [Repealed, 2004 c 162 art 4 s 43]
336.7-105 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:
(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):
(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):
(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.
History: 2004 c 162 art 4 s 5