Montana § 30-7-601 Lost And Missing Documents

Montana Statutes

§ 30-7-601 — Lost And Missing Documents

Montana·Title 30 TRADE AND COMMERCE·Ch. 7 UNIFORM COMMERCIAL CODE -- WAREHOUSE RECEIPTS, BILLS OF LADING, AND OTHER DOCUMENTS OF TITLE·Part 6 Warehouse Receipts and Bills of Lading Miscellaneous Provisions

30-7-601 . Lost and missing documents.

(1)If a document has been lost, stolen, or destroyed, a court may order delivery of the goods or issuance of a substitute document and the bailee may without liability to any person comply with the order. If the document was negotiable, a court may not order delivery of the goods or issuance of a substitute document without the claimant's posting security unless it finds that any person that may suffer loss as a result of nonsurrender of possession or control of the document is adequately protected against the loss. If the document was not nonnegotiable, the court may require security. The court may also order payment of the bailee's reasonable costs and attorney's fees in any action under this subsection.

(2)A bailee that without court order delive

Free access — add to your briefcase to read the full text and ask questions with AI

30-7-601 . Lost and missing documents. (1) If a document has been lost, stolen, or destroyed, a court may order delivery of the goods or issuance of a substitute document and the bailee may without liability to any person comply with the order. If the document was negotiable, a court may not order delivery of the goods or issuance of a substitute document without the claimant's posting security unless it finds that any person that may suffer loss as a result of nonsurrender of possession or control of the document is adequately protected against the loss. If the document was not nonnegotiable, the court may require security. The court may also order payment of the bailee's reasonable costs and attorney's fees in any action under this subsection.
(2) A bailee that without court order delivers goods to a person claiming under a missing negotiable document of title is liable to any person injured thereby. If the delivery is not in good faith, the bailee is liable for conversion. Delivery in good faith is not conversion, if the claimant posts security with the bailee in an amount at least double the value of the goods at the time of posting to indemnify any person injured by the delivery which files a notice of claim within 1 year after the delivery.

Montana § 30-7-601 (Lost And Missing Documents) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.