53-12-40."Transferable record" defined.
For purposes of this chapter, the term, transferable record, means an electronic record that:
(1)Would be a note under Article 3 of the Uniform Commercial Code or a document under Article 7 of the Uniform Commercial Code if the electronic record were in writing; and
(2)The issuer of the electronic record expressly has agreed is a transferable record.
Source: SL 2000, ch 225, §40.