Control of Electronic Document of Title

1. Law
2. Tennessee Code
3. Commercial Instruments and Transactions
4. Uniform Commercial Code — Documents of Title
5. General Provisions
6. Control of Electronic Document of Title

1. 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.
2. 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 subdivisions (b)(4), (5), and (6), unalterable;
   2. The authoritative copy identifies the person asserting control as:
      1. The person to which the document was issued; or
      2. If the authoritative copy indicates that the document has been transferred, the person to which the document was most recently transferred;
   3. The authoritative copy is communicated to and maintained by the person asserting control or its 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.

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