554E.3 Legal effect of distributed ledger technology and smart contract. 1. A record, signature, or contract shall not be denied legal effect or enforceability solely because it is created, generated, sent, signed, adopted, communicated, received, recorded, orstored by means of distributed ledger technology or a smart contract. 2. A contract shall not be denied legal effect or enforceability solely because of any of the following: a. The contract contains a smart contract term.b. An electronic record, distributed ledger technology, or a smart contract was used in the formation of the contract. 3. Notwithstanding any other law to the contrary, a person using distributed ledger technology in the course of engaging in or affecting intrastate commerce, interstatecommerce, or foreign commerce to secure information that the person owns or has theright to use retains the same rights of ownership or use with respect to such informationas before the person secured the information using distributed ledger technology. Thissubsection does not apply to the use of distributed ledger technology to secure informationin connection with a transaction to the extent that the terms of the transaction uted ledger technology. Thissubsection does not apply to the use of distributed ledger technology to secure informationin connection with a transaction to the extent that the terms of the transaction expresslyprovide for the transfer of rights of ownership or use with respect to such information. 2022 Acts, ch 1116, §6 Sat Dec 23 11:04:04 2023 Iowa Code 2024, Section 554E.3 (2, 0)
Iowa Legal Code