554.7401  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 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.
[S13, §3138-a20, -b22; C24, 27, 31, 35, 39, §8267, 9680; C46, 50, 54, 58, 62, §487.23, 542.20; C66, 71, 73, 75, 77, 79, 81, §554.7401]
2007 Acts, ch 30, §25, 45, 46