Legislation

Search OpenLegislation Statutes
This entry was published on 2014-12-26
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 7-401
Irregularities in Issue of Receipt or Bill or Conduct of Issuer
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 7, PART 4
Section 7--401. Irregularities in Issue of Receipt or Bill or Conduct of

Issuer.

The obligations imposed by this article on an issuer apply to a
document of title even if:

(1) the document does not comply with the requirements of this article
or of any other statute, rule, or regulation regarding its issuance,
form, or content;

(2) the issuer violated laws regulating the conduct of its business;

(3) the goods covered by the document were owned by the bailee when
the document was issued; or

(4) the person issuing the document is not a warehouse but the
document purports to be a warehouse receipt.