Title Minnesota Statutes, Minnesota Statutes

336.7-210 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-210 ENFORCEMENT OF WAREHOUSE'S LIEN. (a) Except as otherwise provided in subsection (b), a warehouse's lien may be enforced by public or private sale of the goods, in bulk or in packages, at any time or place and on any te…

336.7-301 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-301 LIABILITY FOR NONRECEIPT OR MISDESCRIPTION; "SAID TO CONTAIN"; "SHIPPER'S WEIGHT, LOAD, AND COUNT"; IMPROPER HANDLING. (a) A consignee of a nonnegotiable bill of lading which has given value in good faith, or a holder …

336.7-302 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-302 THROUGH BILLS OF LADING AND SIMILAR DOCUMENTS OF TITLE. (a) The issuer of a through bill of lading, or other document of title embodying an undertaking to be performed in part by a person acting as its agent or by a pe…

336.7-303 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-303 DIVERSION; RECONSIGNMENT; CHANGE OF INSTRUCTIONS. (a) Unless the bill of lading otherwise provides, a carrier may deliver the goods to a person or destination other than that stated in the bill or may otherwise dispose…

336.7-304 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-304 TANGIBLE BILLS OF LADING IN A SET. (a) Except as customary in international transportation, a tangible bill of lading may not be issued in a set of parts. The issuer is liable for damages caused by violation of this su…

336.7-305 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-305 DESTINATION BILLS. (a) Instead of issuing a bill of lading to the consignor at the place of shipment, a carrier, at the request of the consignor, may procure the bill to be issued at destination or at any other place d…

336.7-306 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-306 ALTERED BILLS OF LADING. An unauthorized alteration or filling in of a blank in a bill of lading leaves the bill enforceable according to its original tenor. History: 2004 c 162 art 4 s 22

336.7-307 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-307 LIEN OF CARRIER. (a) A carrier has a lien on the goods covered by a bill of lading or on the proceeds thereof in its possession for charges after the date of the carrier's receipt of the goods for storage or transporta…

336.7-308 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-308 ENFORCEMENT OF CARRIER'S LIEN. (a) A carrier's lien on goods may be enforced by public or private sale of the goods, in bulk or in packages, at any time or place and on any terms that are commercially reasonable, after…

336.7-309 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-309 DUTY OF CARE; CONTRACTUAL LIMITATION OF CARRIER'S LIABILITY. (a) A carrier that issues a bill of lading, whether negotiable or nonnegotiable, shall exercise the degree of care in relation to the goods which a reasonabl…

336.7-401 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-401 IRREGULARITIES IN ISSUE OF RECEIPT OR BILL OR CONDUCT OF ISSUER. The obligations imposed by this article on an issuer apply to a document of title even if: (1) the document does not comply with the requirements of this…

336.7-402 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-402 DUPLICATE DOCUMENT OF TITLE; OVERISSUE. A duplicate or any other document of title purporting to cover goods already represented by an outstanding document of the same issuer does not confer any right in the goods, exc…

336.7-403 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-403 OBLIGATION OF BAILEE TO DELIVER; EXCUSE. (a) A bailee shall deliver the goods to a person entitled under a document of title if the person complies with subsections (b) and (c), unless and to the extent that the bailee…

336.7-404 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-404 NO LIABILITY FOR GOOD FAITH DELIVERY PURSUANT TO DOCUMENT OF TITLE. A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or pursu…

336.7-501 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-501 FORM OF NEGOTIATION AND REQUIREMENTS OF DUE NEGOTIATION. (a) The following rules apply to a negotiable tangible document of title: (1) If the document's original terms run to the order of a named person, the document i…

336.7-502 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-502 RIGHTS ACQUIRED BY DUE NEGOTIATION. (a) Subject to sections 336.7-205 and 336.7-503, a holder to which a negotiable document of title has been duly negotiated acquires thereby: (1) title to the document; (2) title to t…

336.7-503 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-503 DOCUMENT OF TITLE TO GOODS DEFEATED IN CERTAIN CASES. (a) A document of title confers no right in goods against a person that before issuance of the document had a legal interest or a perfected security interest in the…

336.7-504 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-504 RIGHTS ACQUIRED IN ABSENCE OF DUE NEGOTIATION; EFFECT OF DIVERSION; STOPPAGE OF DELIVERY. (a) A transferee of a document of title, whether negotiable or nonnegotiable, to which the document has been delivered but not d…

336.7-505 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-505 INDORSER NOT GUARANTOR FOR OTHER PARTIES. The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee or previous indorsers. History: 2004 c 162 ar…

336.7-506 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-506 DELIVERY WITHOUT INDORSEMENT: RIGHT TO COMPEL INDORSEMENT. The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply any necessary indorsement, but the…

336.7-507 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-507 WARRANTIES ON NEGOTIATION OR DELIVERY OF DOCUMENT OF TITLE. If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under section 336.7-508, unless otherwise agreed, the …

336.7-508 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-508 WARRANTIES OF COLLECTING BANK AS TO DOCUMENTS OF TITLE. A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other claim against de…

336.7-509 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-509 ADEQUATE COMPLIANCE WITH COMMERCIAL CONTRACT. Whether a document of title is adequate to fulfill the obligations of a contract for sale, a contract for lease, or the conditions of a letter of credit is determined by ar…

336.7-601 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-601 LOST, STOLEN, OR DESTROYED DOCUMENTS OF TITLE. (a) If a document of title is lost, stolen, or destroyed, a court may order delivery of the goods or issuance of a substitute document and the bailee may without liability…

336.7-602 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-602 JUDICIAL PROCESS AGAINST GOODS COVERED BY NEGOTIABLE DOCUMENT OF TITLE. Unless a document of title was originally issued upon delivery of the goods by a person that did not have power to dispose of them, a lien does no…

336.7-603 MS 2002 [Repealed, 2004 c 162 art 4 s 43] 336.7-603 CONFLICTING CLAIMS; INTERPLEADER. If more than one person claims title to or possession of the goods, the bailee is excused from delivery until the bailee has a reasonable time to ascertain the validity of the adverse …

336.7-703 APPLICABILITY. Laws 2004, chapter 162, applies to a document of title that is issued or a bailment that arises on or after August 1, 2004. Laws 2004, chapter 162, does not apply to a document of title that is issued or a bailment that arises before August 1, 2004, even …

336.7-704 SAVINGS CLAUSE. A document of title issued or a bailment that arises before August 1, 2004, and the rights, obligations, and interests flowing from that document or bailment are governed by any statute or other rule amended or repealed by Laws 2004, chapter 162, as if a…

336.8-101 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-101 SHORT TITLE. This article may be cited as Uniform Commercial Code - Investment Securities. History: 1965 c 811 s 336.8-101; 1995 c 194 art 1 s 1

336.8-102 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-102 DEFINITIONS. (a) In this article: (1) "Adverse claim" means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, tran…

336.8-103 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-103 RULES FOR DETERMINING WHETHER CERTAIN OBLIGATIONS AND INTERESTS ARE SECURITIES OR FINANCIAL ASSETS. (a) A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity…

336.8-104 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-104 ACQUISITION OF SECURITY OR FINANCIAL ASSET OR INTEREST THEREIN. (a) A person acquires a security or an interest therein, under this article, if: (1) the person is a purchaser to whom a security is delivered pursuant to…

336.8-105 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-105 NOTICE OF ADVERSE CLAIM. (a) A person has notice of an adverse claim if: (1) the person knows of the adverse claim; (2) the person is aware of facts sufficient to indicate that there is a significant probability that t…

336.8-106 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-106 CONTROL. (a) A purchaser has "control" of a certificated security in bearer form if the certificated security is delivered to the purchaser. (b) A purchaser has "control" of a certificated security in registered form i…

336.8-107 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-107 WHETHER ENDORSEMENT, INSTRUCTION, OR ENTITLEMENT ORDER IS EFFECTIVE. (a) "Appropriate person" means: (1) with respect to an endorsement, the person specified by a security certificate or by an effective special endorse…

336.8-108 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-108 WARRANTIES IN DIRECT HOLDING. (a) A person who transfers a certificated security to a purchaser for value warrants to the purchaser, and an endorser, if the transfer is by endorsement, warrants to any subsequent purcha…

336.8-109 WARRANTIES IN INDIRECT HOLDING. (a) A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that: (1) the entitlement order is made by an appropriate person, or if the entitlement order is by an agent, the agent …

336.8-110 APPLICABILITY; CHOICE OF LAW. (a) The local law of the issuer's jurisdiction, as specified in subsection (d), governs: (1) the validity of a security; (2) the rights and duties of the issuer with respect to registration of transfer; (3) the effectiveness of registration…

336.8-111 CLEARING CORPORATION RULES. A rule adopted by a clearing corporation governing rights and obligations among the clearing corporation and its participants in the clearing corporation is effective even if the rule conflicts with this chapter and affects another party who …

336.8-112 CREDITOR'S LEGAL PROCESS. (a) The interest of a debtor in a certificated security may be reached by a creditor only by actual seizure of the security certificate by the officer making the attachment or levy, except as otherwise provided in subsection (d). However, a cer…

336.8-113 STATUTE OF FRAUDS INAPPLICABLE. A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modific…

336.8-114 EVIDENTIARY RULES CONCERNING CERTIFICATED SECURITIES. The following rules apply in an action on a certificated security against the issuer: (1) Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary endorsement is admitte…

336.8-115 SECURITIES INTERMEDIARY AND OTHERS NOT LIABLE TO ADVERSE CLAIMANT. A securities intermediary that has transferred a financial asset pursuant to an effective entitlement order, or a broker or other agent or bailee that has dealt with a financial asset at the direction of…

336.8-116 SECURITIES INTERMEDIARY AS PURCHASER FOR VALUE. A securities intermediary that receives a financial asset and establishes a security entitlement to the financial asset in favor of an entitlement holder is a purchaser for value of the financial asset. A securities interm…

336.8-201 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-201 ISSUER. (a) With respect to an obligation on or a defense to a security, an "issuer" includes a person that: (1) places or authorizes the placing of its name on a security certificate, other than as authenticating trus…

336.8-202 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-202 ISSUER'S RESPONSIBILITY AND DEFENSES; NOTICE OF DEFECT OR DEFENSE. (a) Even against a purchaser for value and without notice, the terms of a certificated security include terms stated on the certificate and terms made …