Control of electronic document of title

  1. Law
  2. Mississippi Code
  3. Regulation of Trade, Commerce and Investments
  4. Uniform Commercial Code-Documents of Title
  5. General
  6. Control of electronic document of title

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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.

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

  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;
  2. The authoritative copy identifies the person asserting control as:
  3. The authoritative copy is communicated to and maintained by the person asserting control or is designated custodian;
  4. Copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the person asserting control;
  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
  6. Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.

The person to which the document was issued; or

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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