Effective - 28 Aug 2017, 2 histories
400.7-104. Negotiable and nonnegotiable warehouse receipt, bill of lading or other document of title. — (a) Except as otherwise provided in subsection (c), a document of title is negotiable if by its terms the goods are to be delivered to bearer or to the order of a named person.
(b) A document of title other than one described in subsection (a) is nonnegotiable. A bill of lading that states that the goods are consigned to a named person is not made negotiable by a provision that the goods are to be delivered only against an order in a record signed by the same or another named person.
(c) A document of title is nonnegotiable if, at the time it is issued, the document has a conspicuous legend, however expressed, that it is nonnegotiable.
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(L. 1963 p. 503 § 7-104, A.L. 2017 H.B. 34)