30-7-401. Irregularities in issue of receipt or bill or conduct of issuer. The obligations imposed by this chapter on an issuer apply to a document of title even if:
     (1) the document does not comply with the requirements of this chapter or of any other statute, rule, or regulation regarding its issue, 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.

     History: En. Sec. 7-401, Ch. 264, L. 1963; R.C.M. 1947, 87A-7-401; amd. Sec. 58, Ch. 575, L. 2005.