137.24 Transferable records.
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/wi/chapter-137/137-24A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
137.24 Transferable records.
(1)In this section, “transferable record” means an electronic record that is a note under ch. 403 or a record under ch. 407 .
(1m)An electronic record qualifies as a transferable record under this section only if the issuer of the electronic record expressly has agreed that the electronic record is a transferable record.
(2)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.
(3)A system satisfies the requirements of sub.
(2), 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:
(a)A single authoritative copy of the transferable record exists which is unique, identifiable, and, except as otherwise provided in pars.
(d)to
(f), unalterable;
(b)The authoritative copy identifies the person asserting control as the person to which the transferable record was issued or, if the authoritative copy indicates that the transferable record has been transferred, the person to which the transferable record was most recently transferred;