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Searching 2023-2024 Session

The Vermont Statutes Online

The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

Title 9A : Uniform Commercial Code

Article 007 : Documents of Title

(Cite as: 9A V.S.A. § 7-105)
  • § 7—105. Reissuance in alternative medium

    (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 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) of this section:

    (1) the electronic document ceases to have any effect or validity; and

    (2) 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.

    (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 surrenders possession of the document to the issuer; and

    (2) the electronic document when issued contains a statement that it is issued in substitution for the tangible document.

    (d) Upon issuance of an electronic document of title in substitution for a tangible document of title in accordance with subsection (c) of this section:

    (1) the tangible document ceases to have any effect or validity; and

    (2) 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. (Added 2015, No. 51, § B.3, eff. June 3, 2015.)