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.