Nevada Revised Statutes 104.7105 – Reissuance in alternative medium
1. 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:
Terms Used In Nevada Revised Statutes 104.7105
- 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 Nevada Revised Statutes 104.7102
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
(a) The person entitled under the electronic document surrenders control of the document to the issuer; and
(b) The tangible document when issued contains a statement that it is issued in substitution for the electronic document.
2. Upon issuance of a tangible document of title in substitution for an electronic document of title in accordance with subsection 1:
(a) The electronic document ceases to have any effect or validity; and
(b) 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.
3. 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:
(a) The person entitled under the tangible document surrenders possession of the document to the issuer; and
(b) The electronic document when issued contains a statement that it is issued in substitution for the tangible document.
4. Upon issuance of an electronic document of title in substitution for a tangible document of title in accordance with subsection 3:
(a) The tangible document ceases to have any effect or validity; and
(b) 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.