Me. Stat. tit. 11 § 7-1104

Current through 131st (2023-2024) Legislature Chapter 684
Section 7-1104 - Negotiable and nonnegotiable document of title
(1). Except as otherwise provided in subsection (3), 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.

[2009, c. 324, Pt. A, §2(NEW); 2009, c. 324, Pt. A, §4(AFF).]

(2). A document of title other than one described in subsection (1) 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.

[2009, c. 324, Pt. A, §2(NEW); 2009, c. 324, Pt. A, §4(AFF).]

(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.

[2009, c. 324, Pt. A, §2(NEW); 2009, c. 324, Pt. A, §4(AFF).]

11 M.R.S. § 7-1104

2009, c. 324, Pt. A, §2 (NEW) . 2009, c. 324, Pt. A, §4 (AFF) .