554D.106A Use of distributed ledger technology.
A person who, in engaging in or affecting interstate or foreign commerce, uses distributed ledger technology to secure information that the person owns or has the right to use retains the same rights of ownership or use with respect to such information as before the person secured the information using distributed ledger technology. This section does not apply to the use of distributed ledger technology to secure information in connection with a transaction to the extent that the terms of the transaction expressly provide for the transfer of rights of ownership or use with respect to such information.
2021 Acts, ch 116, §3, 5
Section effective January 1, 2022; 2021 Acts, ch 116, §5
NEW section
Structure Iowa Code
Chapter 554D - ELECTRONIC TRANSACTIONS — COMPUTER AGREEMENTS
Section 554D.101 - Short title.
Section 554D.102 - Legislative intent.
Section 554D.103 - Definitions.
Section 554D.105 - Prospective application.
Section 554D.106 - Use of electronic records and electronic signatures — variation by agreement.
Section 554D.106A - Use of distributed ledger technology.
Section 554D.107 - Construction and application.
Section 554D.109 - Legal recognition of electronic records affecting interests in real property.
Section 554D.110 - Provision of information in writing — presentation of records.
Section 554D.111 - Attribution and effect of electronic record and electronic signature.
Section 554D.112 - Effect of change or error.
Section 554D.113 - Notarization and acknowledgment.
Section 554D.114 - Retention of electronic records — originals.
Section 554D.115 - Admissibility in evidence.
Section 554D.116 - Automated transaction.
Section 554D.117 - Time and place of sending and receipt.
Section 554D.118 - Transferable records.
Section 554D.120 - Acceptance and distribution of electronic records by governmental agencies.
Section 554D.121 - Interoperability.
Section 554D.122 - Fraudulent purpose — penalty.
Section 554D.123 - False or unauthorized request — penalty.