Section 7-7-401 - 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but the document purports to be a warehouse receipt.(Prior version of this section added by Acts 1965, No. 549, p. 811; repealed by Act 2004-315, p. 464, §1; current section added by Act 2004-315, p. 464, §1.)