Title 8

NRS 104.7102 Definitions and index of definitions. 1. In this Article, unless the context otherwise requires: (a) “Bailee” means a person that by a warehouse receipt, bill of lading or other document of title acknowledges possession of goods and contracts to deliver them. (b) “Ca…

NRS 104.7103 Relation of Article to treaty or statute. 1. This Article is subject to any treaty or statute of the United States or regulatory statute of this State to the extent the treaty, statute or regulatory statute is applicable. 2. This Article does not modify or repeal any…

NRS 104.7104 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. 2. A document of title other than one describ…

NRS 104.7105 Reissuance in alternative medium. 1. Upon request of a person entitled under an electronic document of title, the issuer of the electronic document may issue a tangible document of title as a substitute for the electronic document if: (a) The person entitled under th…

NRS 104.7106 Control of electronic document of title. 1. A person has control of an electronic document of title if a system employed for evidencing the transfer of interests in the electronic document reliably establishes that person as the person to whom the electronic document…

NRS 104.7201 Person that may issue warehouse receipt; storage under bond. 1. A warehouse receipt may be issued by any warehouse. 2. If goods, including distilled spirits and agricultural commodities, are stored under a statute requiring a bond against withdrawal or a license for …

NRS 104.7202 Form of warehouse receipt; effect of omission. 1. A warehouse receipt need not be in any particular form. 2. Unless a warehouse receipt provides for each of the following, the warehouse is liable for damages caused to a person injured by its omission: (a) A statement…

NRS 104.7203 Liability for nonreceipt or misdescription. A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies upon the description of the goods in the document may recover from the issuer damages caused by the nonreceipt…

NRS 104.7204 Duty of care; contractual limitation of warehouse’s liability. 1. A warehouse is liable for damages for loss of or injury to the goods caused by its failure to exercise care with regard to the goods that a reasonably careful person would exercise under similar circum…

NRS 104.7205 Title under warehouse receipt defeated in certain cases. A buyer in the ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of buying and selling such goods takes the goods free of any claim under a warehouse r…

NRS 104.7206 Termination of storage at warehouse’s option. 1. A warehouse, by giving notice to the person on whose account the goods are held and any other person known to claim an interest in the goods, may require payment of any charges and removal of the goods from the warehou…

NRS 104.7207 Goods must be kept separate; fungible goods. 1. Unless the warehouse receipt provides otherwise, a warehouse shall keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods. However, different lots of fung…

NRS 104.7208 Altered warehouse receipts. If a blank in a negotiable tangible warehouse receipt has been filled in without authority, a good-faith purchaser for value and without notice of the lack of authority may treat the insertion as authorized. Any other unauthorized alterati…

NRS 104.7209 Lien of warehouse. 1. A warehouse has a lien against the bailor on the goods covered by a warehouse receipt or storage agreement or on the proceeds thereof in its possession for charges for storage or transportation, including demurrage and terminal charges, insuranc…

NRS 104.7210 Enforcement of warehouse’s lien. 1. Except as otherwise provided in subsection 2, 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 terms that are commercially reasonable, after notifyin…

NRS 104.7301 Liability for nonreceipt or misdescription; “said to contain”; “shipper’s weight, load and count”; improper handling. 1. A consignee of a nonnegotiable bill of lading which has given value in good faith, or a holder to whom a negotiable bill has been duly negotiated,…

NRS 104.7302 Through bills of lading and similar documents of title. 1. 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 performing carrier, is liable to any person entitled…

NRS 104.7303 Diversion; reconsignment; change of instructions. 1. 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 of the goods, without liability for misdelivery, …

NRS 104.7304 Tangible bills of lading in set. 1. 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 subsection. 2. If a tangible bill of lading is lawfull…

NRS 104.7305 Destination bills. 1. 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 designated in the request. 2. Upon request of any p…

NRS 104.7306 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. (Added to NRS by 2005, 842)

NRS 104.7307 Lien of carrier. 1. 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 transportation, including demurrage and terminal charges, an…

NRS 104.7308 Enforcement of carrier’s lien. 1. 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 notifying all persons known to claim an interest …

NRS 104.7309 Duty of care; contractual limitation of carrier’s liability. 1. 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 reasonably careful person would exercise under similar circ…

NRS 104.7401 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 Article or of any other statute, rule or regulati…

NRS 104.7402 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, except as provided in the case of tangible bills of …

NRS 104.7403 Obligation of bailee to deliver; excuse. 1. A bailee shall deliver the goods to a person entitled under a document of title if the person complies with subsections 2 and 3, unless and to the extent that the bailee establishes any of the following: (a) Delivery of the…

NRS 104.7404 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 pursuant to this Article is not liable for the goods e…

NRS 104.7501 Form of negotiation and requirements of due negotiation. 1. The following rules apply to a negotiable tangible document of title: (a) If the document’s original terms run to the order of a named person, the document is negotiated by the named person’s endorsement and…

NRS 104.7502 Rights acquired by due negotiation. 1. Subject to NRS 104.7205 and 104.7503, a holder to whom a negotiable document of title has been duly negotiated acquires thereby: (a) Title to the document; (b) Title to the goods; (c) All rights accruing under the law of agency …

NRS 104.7503 Document of title to goods defeated in certain cases. 1. 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 goods and that did not: (a) Deliver or entrust th…

NRS 104.7504 Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery. 1. A transferee of a document of title, whether negotiable or nonnegotiable, to whom the document has been delivered but not duly negotiated, acquires the title and rights that …

NRS 104.7505 Endorser not guarantor for other parties. The endorsement of a tangible document of title issued by a bailee does not make the endorser liable for any default by the bailee or previous endorsers. (Added to NRS by 2005, 846)

NRS 104.7506 Delivery without endorsement; right to compel endorsement. The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply any necessary endorsement, but the transfer becomes a negotiation only as of the ti…

NRS 104.7507 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 NRS 104.7508, unless otherwise agreed, the transferor, in addition to any warranty made in sellin…

NRS 104.7508 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 delivery of documents warrants by the delivery of t…

NRS 104.7509 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 Article 2, 5 or 2A. (Added to NRS by 2005, 847) Par…

NRS 104.7601 Lost, stolen or destroyed documents of title. 1. 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 to any person comply with the order. If the documen…

NRS 104.7602 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 not attach by virtue of any judicial process to goo…

NRS 104.7603 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 claims or to commence an action for interpleader.…

NRS 104.8101 Short title. This article may be cited as Uniform Commercial Code—Investment Securities. (Added to NRS by 1965, 876; A 1997, 384)

NRS 104.8102 Definitions and index of definitions. 1. In this Article: (a) “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, transfer or deal with the fin…

NRS 104.8103 Rules for determining whether certain obligations and interests are securities or financial assets. 1. A share or similar equity interest issued by a corporation, business trust, joint stock company or similar entity is a security. 2. An investment company security i…

NRS 104.8104 Acquisition of security or financial asset or interest therein. 1. A person acquires a security, or an interest therein, under this article, if the person: (a) Is a purchaser to whom a security is delivered pursuant to NRS 104.8301; or (b) Acquires a security entitle…

NRS 104.8105 Notice of adverse claim. 1. A person has notice of an adverse claim if the person: (a) Knows of the adverse claim; (b) Is aware of facts sufficient to indicate that there is a significant probability that the adverse claim exists and deliberately avoids information t…

NRS 104.8106 Control. 1. A purchaser has “control” of a certificated security in bearer form if it is delivered to the purchaser. 2. A purchaser has “control” of a certificated security in registered form if it is delivered to the purchaser and: (a) The certificate is endorsed to…