Section 36-7-105 - 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):(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.Amended by 2014 S.C. Acts, Act No. 213 (SB 343), s 2, eff. 10/1/2014. Prior Laws: Former Section 36-7-105 was titled Construction against negative implication, and had the following history: 1962 Code Section 10.7-105; 1966 (54) 2716; omitted by 2014 Act No. 213, Section 2.
2014 Act No. 213, Section 51, provides as follows:
"SECTION 51. This act becomes effective on October 1, 2014. It applies to transactions entered into and events occurring after that date."