26-1-8.1-112. Creditor Access to Debtor’s Interest in a Security
Sec. 112. (a) The interest of a debtor in a certificated security may be reached by a creditor only by actual seizure of the security certificate by the officer making the attachment or levy, except as otherwise provided in subsection (d). However, a certificated security for which the certificate has been surrendered to the issuer […]
26-1-7-602. Attachment of Goods Covered by a Negotiable Document
Sec. 602. Unless a document of title was originally issued upon delivery of the goods by a person that did not have power to dispose of them, a lien does not attach by virtue of any judicial process to goods in the possession of a bailee for which a negotiable document of title is outstanding […]
26-1-7-309. Duty of Care; Contractual Limitation of Carrier’s Liability
Sec. 309. (a) A carrier that issues a bill of lading, whether negotiable or nonnegotiable, shall exercise the degree of care in relation to the goods which a reasonably careful person would exercise under similar circumstances. This subsection does not affect any law, regulation, or rule of law that imposes liability upon a common carrier […]
26-1-7-401. Irregularities in Issue of Receipt or Bill or Conduct of Issuer
Sec. 401. The obligations imposed by this chapter on an issuer apply to a document of title even if: (1) the document does not comply with the requirements of this chapter or of any other statute, rule, or regulation regarding its issuance, form, or content; (2) the issuer violated laws regulating the conduct of its […]
26-1-7-402. Duplicate Receipt or Bill; Overissue
Sec. 402. A duplicate or any other document of title purporting to cover goods already represented by an outstanding document of the same issuer does not confer any right in the goods, except as provided in the case of tangible bills of lading in a set of parts, overissue of documents for fungible goods, substitutes […]
26-1-7-403. Obligation of Warehouse or Carrier to Deliver; Excuse
Sec. 403. (a) A bailee shall deliver the goods to a person entitled under a document of title if the person complies with subsections (b) and (c), unless and to the extent that the bailee establishes any of the following: (1) Delivery of the goods to a person whose receipt was rightful as against the […]
26-1-7-404. No Liability for Good Faith Delivery Upon Receipt or Bill
Sec. 404. A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or pursuant to this chapter is not liable for the goods even if: (1) the person from which the bailee received the goods did not have authority […]
26-1-7-501. Form of Negotiation and Requirements of “Due Negotiation”
Sec. 501. (a) The following rules apply to a negotiable tangible document of title: (1) If the document’s original terms run to the order of a named person, the document is negotiated by the named person’s endorsement and delivery. After the named person’s endorsement in blank or to bearer, any person may negotiate the document […]
26-1-7-502. Rights Acquired by Due Negotiation
Sec. 502. (a) Subject to sections 205 and 503 of this chapter, a holder to which a negotiable document of title has been duly negotiated acquires thereby: (1) title to the document; (2) title to the goods; (3) all rights accruing under the law of agency or estoppel, including rights to goods delivered to the […]
26-1-7-503. Form of Negotiation and Requirements of “Due Negotiation”
Sec. 503. (a) A document of title confers no right in goods against a person that before issuance of the document had a legal interest or a perfected security interest in the goods and that did not: (1) deliver or entrust the goods or any document of title covering the goods to the bailor or […]