§ 8.7-106

Control of electronic document

(1. A person has control of an electronic document 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.

(2. A system satisfies subsection (1), and a person is deemed to have control of an electronic document, if the document is created, stored, and assigned in such a manner that:

(a. a single authoritative copy of the document exists that is unique, identifiable, and, except as otherwise provided in subdivisions (c), (d), and (e), unalterable;

(b. the authoritative copy identifies the person asserting control as:

(i. the person to whom the document was issued; or

(ii. if the authoritative copy indicates that the document has been transferred, the person to whom the document was most recently transferred;

(c. the authoritative copy is communicated to and maintained by the person asserting control or his designated custodian;

(d. 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;

(e. 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

(f. any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.

History

2004, c. 200.

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