When, according to the terms of the contract, the seller sends the things to the buyer through a common carrier, the form of the bill of lading determines ownership of the things while in transit.
When the bill of lading makes the things deliverable to the buyer, or to his order, ownership of the things is thereby transferred to the buyer.
When the bill of lading makes the things deliverable to the seller, or to his agent, ownership of the things thereby remains with the seller.
When the seller or his agent remains in possession of a bill of lading that makes the things deliverable to the buyer, or to the buyer's order, the seller thereby reserves the right to retain the things against a claim of the buyer who has not performed his obligations.
Acts 1993, No. 841, §1, eff. Jan. 1, 1995.