The obligations imposed by this Article on an issuer apply to a document of title even if: [PL 2009, c. 324, Pt. A, §2 (NEW); PL 2009, c. 324, Pt. A, §4 (AFF).]
(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.