Mich. Comp. Laws § 440.7401

Current through Public Act 171 of the 2024 Legislative Session

Section 440.7401 - Irregularities in issue of document of title

The obligations imposed by this article on an issuer apply to a document of title even if any of the following apply:

(a) 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.

(b) The issuer violated laws regulating the conduct of its business.

(c) The goods covered by the document were owned by the bailee when the document was issued.

(d) The person issuing the document is not a warehouse but the document purports to be a warehouse receipt.

MCL 440.7401

Amended by 2012, Act 87,s 42, eff. 7/1/2013.

1962, Act 174, Eff. 1/1/1964.