Idaho Statutes

Idaho Statutes are updated to the web July 1 following the legislative session.

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TITLE 28
COMMERCIAL TRANSACTIONS
CHAPTER 7
DOCUMENTS OF TITLE
PART 1.
GENERAL
28-7-105.  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) 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.

History:
[28-7-105, added 2004, ch. 42, sec. 2, p. 81.]


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