Sec. 7.106.  CONTROL OF ELECTRONIC DOCUMENT OF TITLE.  (a)  A person has control of an electronic document of title if a system employed for evidencing the transfer of interests in the electronic document reliably establishes that person as the person to which the electronic document was issued or transferred.
(b)  A system satisfies Subsection (a), and a person is deemed to have control of an electronic document of title, if the document is created, stored, and assigned in such a manner that:
(1)  a single authoritative copy of the document exists which is unique, identifiable, and, except as otherwise provided in Subdivisions (4), (5), and (6), unalterable;
(2)  the authoritative copy identifies the person asserting control as:
(A)  the person to which the document was issued; or
(B)  if the authoritative copy indicates that the document has been transferred, the person to which the document was most recently transferred;
(3)  the authoritative copy is communicated to and maintained by the person asserting control or its designated custodian;
(4)  copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the person asserting control;
(5)  each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and
(6)  any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.
Amended by: 
Acts 2005, 79th Leg., Ch. 122 (S.B. 1593), Sec. 1, eff. September 1, 2005.