N.Y. Uniform Commercial Code Law Section 7-401
Irregularities in Issue of Receipt or Bill or Conduct of Issuer

Section 7--401. Irregularities in Issue of Receipt or Bill or Conduct of Issuer. The obligations imposed by this article on an issuer apply to a document of title even if:

(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;

(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.

Source: Section 7-401 — Irregularities in Issue of Receipt or Bill or Conduct of Issuer, https://www.­nysenate.­gov/legislation/laws/UCC/7-401 (updated Dec. 26, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Dec. 26, 2014

§ 7-401’s source at nysenate​.gov

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