Section 382-A:7-105 Reissuance in Alternative Medium. - New Hampshire Statutes

(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):
      (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):
      (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.

Source. 2006, 169:17, eff. Jan. 1, 2007.