Passing nil as the handler function will remove the handler. You can use this to unregister once you have ticked once, and avoid needing to have the code run every tick, forever. Otherwise the code looks good, and by good I mean, like mine. :)
Thanks for the feedback! I didn't find the unregister method in the API docs, thats why I wasn't using it. I will definitely use your suggestion in the next release, when I have fixed multiplayer compatibility.