Negotiable and nonnegotiable document of title

4-7-104. Negotiable and nonnegotiable document of title. (a) Except as otherwise provided in subsection (c) of this section, a document of title is negotiable if by its terms the goods are to be delivered to the bearer or to the order of a named person. (b) A document of title other than one described in subsection (a) 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. (c) 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. Source: L. 2006: Entire article R&RE, p. 471, � 2, effective September 1. L. 2007: (a) amended, p. 366, � 3, effective August 3. Editor's note: This section is similar to former � 4-7-104 as it existed prior to 2006.