25-7-401. 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.