36-11A-1.4. Transaction statement defined. As used in this chapter, the term, transaction statement, means a statement, in paper or electronic form, that the entity transferring ownership in a transaction:
(1) Is authorized under federal law;
(2) Received the product from a person who is authorized as required under federal law;
(3) Received the transaction information and transaction statement from the prior owner of the product, as required by federal law;
(4) Did not knowingly ship a suspect or illegitimate product;
(5) Had systems and processes in place to comply with verification requirements outlined in federal law;
(6) Did not knowingly provide false transaction information; and
(7) Did not knowingly alter the transaction history.Source: SL 2017, ch 174, § 5.
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