(810 ILCS 5/7-401) (from Ch. 26, par. 7-401)
Sec. 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 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.
(Source: P.A. 95-895, eff. 1-1-09.)
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Last modified: February 18, 2015