§ 26-1-7-104 — Negotiable and nonnegotiable warehouse receipt, bill of lading, and 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.
Formerly: Acts 1963, c.317, s.7-104. As amended by
P.L.143-2007, SEC.27.