transferable record
Defined in 1 place of the United States Code.
The term “transferable record” means an electronic record that—
(A) would be a note under Article 3 of the Uniform Commercial Code if the electronic record were in writing;
(B) the issuer of the electronic record expressly has agreed is a transferable record; and
(C) relates to a loan secured by real property.
Source
- 2014–present15 U.S.C. § 7021Commerce and Trade · Transferable records · for purposes of this section
The term "transferable record" means an electronic record that—
(A) would be a note under Article 3 of the Uniform Commercial Code if the electronic record were in writing;
(B) the issuer of the electronic record expressly has agreed is a transferable record; and
(C) relates to a loan secured by real property.
A transferable record may be executed using an electronic signature.
Source
- 2000–201615 U.S.C. § 7021Commerce and Trade · Transferable records · for purposes of this section