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RSA 382-A:7-106 · Control of Electronic Document of Title

Title
XXXIV-A: UNIFORM COMMERCIAL CODE
Chapter
382-A · UNIFORM COMMERCIAL CODE
Status
current
Official source linked
Yes
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382-A:7-106 Control of Electronic Document of Title. –

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(a)

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 which the electronic document was issued or transferred.

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(b)

A system satisfies subsection (a), and a person has control of an electronic document of title, if the document is created, stored, and transferred in such a manner that:

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(1)

a single authoritative copy of the document exists which is unique, identifiable, and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable;

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(2)

the authoritative copy identifies the person asserting control as:

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(A)

the person to which the document was issued; or

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(B)

if the authoritative copy indicates that the document has been transferred, the person to which the document was most recently transferred;

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(3)

the authoritative copy is communicated to and maintained by the person asserting control or its designated custodian;

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(4)

copies or amendments that add or change an identified transferee of the authoritative copy can be made only with the consent of the person asserting control;

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(5)

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

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(6)

any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.

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(c)

A system satisfies subsection (a) and a person has control of an electronic document of title if an electronic copy of the document, a record attached to or logically associated with the electronic copy, or a system in which the electronic copy is recorded:

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(1)

enables the person to readily identify each electronic copy as an authoritative copy or nonauthoritative copy;

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(2)

enables the person readily to identify itself in any way, including by name, identifying number, cryptographic key, office, or account number as the person to which each authoritative electronic copy was issued or transferred; and

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(3)

gives the person exclusive power, subject to subsection (h) to:

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(A)

prevent others from altering the person to which each authoritative electronic copy has been issued or transferred; and

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(B)

transfer control of each authoritative electronic copy.

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(d)

Subject to subsection (e), a power is exclusive under subsection (c)(3)(A) and (B) even if:

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(1)

the authoritative electronic copy, a record attached to or logically associated with the authoritative electronic copy, or a system in which the authoritative electronic copy is recorded limits the use of the document of title or has protocol that is programmed to cause a change, including a transfer or loss of control; or

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(2)

the power is shared with another person.

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(e)

A power of a person is not shared with another person under subsection (d)(2) and the person's power is not exclusive if:

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(1)

the person can exercise the power only if the power also is exercised by the other person; and

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(2)

the other person:

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(A)

can exercise the power without exercise of the power by the person; or

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(B)

is the transferor to the person of an interest in the document of title.

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(f)

If a person has the powers specified in subsection (c)(3)(A) and (B), the powers are presumed to be exclusive.

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(g)

A person has control of an electronic document of title if another person, other than the transferor to the person of an interest in the document:

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(1)

has control of the document and acknowledges that it has control on behalf of the person; or

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(2)

obtains control of the document after having acknowledged that it will obtain control of the document on behalf of the person.

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(h)

A person that has control under this section is not required to acknowledge that it has control on behalf of another person.

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(i)

If a person acknowledges that it has or will obtain control on behalf of another person, unless the person otherwise agrees or law other than this article or Article 9 otherwise provides, the person does not owe any duty to the other person and is not required to confirm the acknowledgment of any other person. Source. 2006, 169:17, eff. Jan. 1, 2007. 2022, 281:35, eff. Jan. 1, 2023. 2023, 236:20, eff. Oct. 7, 2023. Part 2 Warehouse Receipts: Special Provisions

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Source note

Source. 2006, 169:17, eff. Jan. 1, 2007. 2022, 281:35, eff. Jan. 1, 2023. 2023, 236:20, eff. Oct. 7, 2023. Part 2 Warehouse Receipts: Special Provisions

Source history

  • 2006, 169:17, eff. Jan. 1, 2007
  • 2022, 281:35, eff. Jan. 1, 2023
  • 2023, 236:20, eff. Oct. 7, 2023. Part 2 Warehouse Receipts: Special Provisions

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Bill relationships

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    installment sale, or other similar agreement to acquire use or ownership of such equipment as is from time to time required by the municipality. For purposes of this section and RSA 382-A, building or facility improvements related to the installation, purpose, or operation of such equipment shall be deemed to constitute equipment and the costs of such improvements may be financed through lease agreements

  • 2026 HB1066-FN reference

    installment sale, or other similar agreement to acquire use or ownership of such equipment as is from time to time required by the municipality. For purposes of this section and RSA 382-A, building or facility improvements related to the installation, purpose, or operation of such equipment shall be deemed to constitute equipment and the costs of such improvements may be financed through lease agreements

  • 2026 HB1748 reference · effective 2027-01-01

    V. Any mortgage, pledge, or security interest made by the authority under this chapter shall be valid and binding and shall be deemed continuously perfected for the purposes of RSA 382-A and all other laws from the time when the mortgage, pledge, or security interest is made. The property or revenues so mortgaged, pledged, or subjected to a security interest then held or thereafter acquired or received

  • 2026 HB1748-FN reference · effective 2027-01-01

    V. Any mortgage, pledge, or security interest made by the authority under this chapter shall be valid and binding and shall be deemed continuously perfected for the purposes of RSA 382-A and all other laws from the time when the mortgage, pledge, or security interest is made. The property or revenues so mortgaged, pledged, or subjected to a security interest then held or thereafter acquired or received

  • 2026 SB56 reference · effective 2031-07-01

    rfected from the time when the security document is executed with or without any subsequent physical delivery or segregation of the money and without any filing or recording under RSA 382-A or otherwise] A pledge of property, revenues, or other collateral by the authority to secure the payment of principal or redemption price of, or interest on, any bonds, or any reimbursement or similar agreement with any