Illinois Compiled Statutes 810 ILCS 5/7-105 – Reissuance in alternative medium
Current as of: 2024 | Check for updates
|
Other versions
(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
(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):
Terms Used In Illinois Compiled Statutes 810 ILCS 5/7-105
- Issuer: means a bailee that issues a document of
title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Illinois Compiled Statutes 810 ILCS 5/7-102 (1) the electronic document ceases to have any effect |
||
|
||
|
(2) the person that procured issuance of the
|
||
|
||
|
(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 |
||
|
||
|
(2) the electronic document when issued contains a
|
||
|
||
|
(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 |
||
|
||
|
(2) the person that procured issuance of the
|
||
|
||
|
|