Maine Revised Statutes Title 11 Sec. 7-1401 – Irregularities in issue of receipt or bill or conduct of issuer
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The obligations imposed by this Article on an issuer apply to a document of title even if: [PL 2009, c. 324, Pt. A, §2 (NEW); PL 2009, c. 324, Pt. A, §4 (AFF).]
(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;
[PL 2009, c. 324, Pt. A, §2 (NEW); PL 2009, c. 324, Pt. A, §4 (AFF).]
Terms Used In Maine Revised Statutes Title 11 Sec. 7-1401
- Bailee: means a person that by a warehouse receipt, bill of lading or other document of title acknowledges possession of goods and contracts to deliver them. See Maine Revised Statutes Title 11 Sec. 7-1102
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Maine Revised Statutes Title 11 Sec. 7-1102
- Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Maine Revised Statutes Title 11 Sec. 7-1102
- Statute: A law passed by a legislature.
- Warehouse: means a person engaged in the business of storing goods for hire. See Maine Revised Statutes Title 11 Sec. 7-1102
(2). The issuer violated laws regulating the conduct of its business;
[PL 2009, c. 324, Pt. A, §2 (NEW); PL 2009, c. 324, Pt. A, §4 (AFF).]
(3). The goods covered by the document were owned by the bailee when the document was issued; or
[PL 2009, c. 324, Pt. A, §2 (NEW); PL 2009, c. 324, Pt. A, §4 (AFF).]
(4). The person issuing the document is not a warehouse but the document purports to be a warehouse receipt.
[PL 2009, c. 324, Pt. A, §2 (NEW); PL 2009, c. 324, Pt. A, §4 (AFF).]
SECTION HISTORY
PL 2009, c. 324, Pt. A, §2 (NEW). PL 2009, c. 324, Pt. A, §4 (AFF).