| Negotiable and Nonnegotiable Document of Title - Ucc 7-104.

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Effective: June 29, 2011

Latest Legislation: House Bill 9 - 129th General Assembly

Negotiable and nonnegotiable document of title [UCC 7-104]

(A) Except as otherwise provided in division (C) of this section, 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 division (A) of this section 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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