§490:7-602 - Judicial process against goods covered by negotiable document of title.
§490:7-602 Judicial process against goods
covered by negotiable document of title. Unless a document of title was
originally issued upon delivery of the goods by a person that did not have
power to dispose of them, a lien does not attach by virtue of any judicial
process to goods in the possession of a bailee for which a negotiable document
of title is outstanding unless possession or control of the document is first
surrendered to the bailee or the document's negotiation is enjoined. The
bailee may not be compelled to deliver the goods pursuant to process until
possession or control of the document is surrendered to the bailee or to the
court. A purchaser of the document for value without notice of the process or
injunction takes free of the lien imposed by judicial process. [L 2004, c 163,
pt of §1]