47-7104

47-7104. Negotiable and nonnegotiable document
of title

A. Except as otherwise provided in subsection C, a document of title is negotiable
if by its terms the goods are to be delivered to bearer or to the order of a named
person.

B. A document of title other than one described in subsection A is nonnegotiable.
A bill of lading that states that the goods are consigned to a named person is not made
negotiable by a provision that the goods are to be delivered only against an order in a
record signed by the same or another named person.

C. A document of title is nonnegotiable if, at the time it is issued, the document
has a conspicuous legend, however expressed, that it is nonnegotiable.