47-7401. 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 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.
Arizona Legal Code