2017 Alaska Statutes
Title 45. Trade and Commerce
Chapter 07. Warehouse Receipts, Bills of Lading, and Other Documents of Title
Article 1. General
Sec. 45.07.115. Reissuance in alternative medium.

(a) On 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 under (a) of this section,

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

(2) the person who 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) On 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) On issuance of an electronic document of title in substitution for a tangible document of title under (c) of this section,

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

(2) the person who 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.