ORS 77.1060
Control of electronic document of title
(1)
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.(2)
A system satisfies subsection (1) of this section, 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:(a)
A single authoritative copy of the document exists which is unique, identifiable and, except as otherwise provided in paragraphs (d), (e) and (f) of this subsection, unalterable;(b)
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;(c)
The authoritative copy is communicated to and maintained by the person asserting control or a 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. [2009 c.181 §54]
Source:
Section 77.1060 — Control of electronic document of title, https://www.oregonlegislature.gov/bills_laws/ors/ors077.html.
Up to date