Kentucky Statutes 355.7-104 – Negotiable and nonnegotiable document of title
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(1) 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.
(2) A document of title other than one described in subsection (1) of this section 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.
(3) 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.
Effective: July 12, 2012
History: Repealed and reenacted 2012 Ky. Acts ch. 132, sec. 4, effective July 12, 2012.
— Created 1958 Ky. Acts ch. 77, sec. 7-104, effective July 1, 1960.
(2) A document of title other than one described in subsection (1) of this section 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.
Terms Used In Kentucky Statutes 355.7-104
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Kentucky Statutes 355.7-102
(3) 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.
Effective: July 12, 2012
History: Repealed and reenacted 2012 Ky. Acts ch. 132, sec. 4, effective July 12, 2012.
— Created 1958 Ky. Acts ch. 77, sec. 7-104, effective July 1, 1960.