PART 6. 
WAREHOUSE RECEIPTS AND BILLS OF LADING:



MISCELLANEOUS
PROVISIONS



 



§490:7-601  Lost, stolen, or destroyed
documents of title.  (a)  If a document of title is lost, stolen, or
destroyed, a court may order delivery of the goods or issuance of a substitute
document and the bailee may without liability to any person comply with the
order.  If the document was negotiable, a court shall not order delivery of the
goods or issuance of a substitute document without the claimant's posting
security unless it finds that any person that may suffer loss as a result of
nonsurrender of possession or control of the document is adequately protected
against the loss.  If the document was nonnegotiable, the court may require
security.  The court may also order payment of the bailee's reasonable costs
and attorney's fees in any action under this subsection.



(b)  A bailee that, without a court order,
delivers goods to a person claiming under a missing negotiable document of
title is liable to any person injured thereby.  If the delivery is not in good
faith, the bailee is liable for conversion.  Delivery in good faith is not
conversion if the claimant posts security with the bailee in an amount at least
double the value of the goods at the time of posting to indemnify any person
injured by the delivery which files a notice of claim within one year after the
delivery. [L 2004, c 163, pt of §1]