Transferable records Sample Clauses

Transferable records. For purposes of this section, “transferable record” means an electronic record that satisfies both of the following:
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Transferable records. (a) In this section, "transferable record" means an electronic record that: (1) Would be a note under Article 3 of Chapter 25 of the General Statutes or a document under Article 7 of Chapter 25 of the General Statutes if the electronic record were in writing; and (2) The issuer of the electronic record expressly has agreed is a transferable record. (b) A person has control of a transferable record if a system employed for evidencing the transfer of interests in the transferable record reliably establishes that person as the person to which the transferable record was issued or transferred. (c) A system satisfies subsection (b) of this section, and a person is deemed to have control of a transferable record, if the transferable record is created, stored, and assigned in such a manner that: (1) A single authoritative copy of the transferable record exists which is unique, identifiable, and, except as otherwise provided in subdivisions (4), (5), and (6) of this subsection, unalterable; (2) The authoritative copy identifies the person asserting control as: a. The person to which the transferable record was issued; or b. If the authoritative copy indicates that the transferable record has been transferred, the person to which the transferable record 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 revisions 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 revision of the authoritative copy is readily identifiable as authorized or unauthorized. (d) Except as otherwise agreed, a person having control of a transferable record is the holder, as defined in G.S. 25-1-201(21), of the transferable record and has the same rights and defenses as a holder of an equivalent record or writing under Chapter 25 of the General Statutes, including, if the applicable statutory requirements under G.S. 25-3-302(a), 25-7-501, or 25-9-330 are satisfied, the rights and defenses of a holder in due course, a holder to which a negotiable document of title has been duly negotiated, or a purchaser, respectively. Delivery, possession, and endorsement are not required to obtain or exercise any of the rights under this subsection. (e) Except as other...
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Transferable records. (a) In this Section, "transferable record" means an 8 (1) would be a note under Article 3 of the Uniform
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Related to Transferable records

  • Time Records The employer will keep a record for a continuous period of seven (7) years from which can be readily ascertained the following:

  • Electronic Signatures and Electronic Records The Parties consent to the use of electronic signatures. The Agreement, and any other documents requiring a signature hereunder, may be signed electronically by the Parties in the manner specified by any applicable City regulation, rule, and/or ordinance. The Parties agree not to deny the legal effect or enforceability of the Agreement solely because it is in electronic form or because an electronic record was used in its formation. The Parties agree not to object to the admissibility of the Agreement in the form of an electronic record, or a paper copy of an electronic document, or a paper copy of a document bearing an electronic signature, on the ground that it is an electronic record or electronic signature or that it is not in its original form or is not an original.