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 Chapter 55, Article 7 NMSA 1978 is not liable for the goods even if: (1) the person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or (2) the person to which the bailee delivered the goods did not have authority to receive the goods. History: 1953 Comp., § 50A-7-404, enacted by Laws 1961, ch. 96, § 7-404; 2005, ch. 144, § 79.