2006 Minnesota Statutes

336.7-601 MS 2002 [Repealed, 2004 c 162 art 4 s 43]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 to any person comply
with the order. If the document was negotiable, a court may not order delivery of the goods or
issuance of a substitute document without the claimant's posting security unless it finds that any
person that may suffer loss as a result of nonsurrender of possession or control of the document is
adequately protected against the loss. If the document was nonnegotiable, the court may require
security. The court may also order payment of the bailee's reasonable costs and attorney's fees
in any action under this subsection.
(b) A bailee that, without a court order, delivers goods to a person claiming under a missing
negotiable document of title is liable to any person injured thereby. If the delivery is not in good
faith, the bailee is liable for conversion. Delivery in good faith is not conversion if the claimant
posts security with the bailee in an amount at least double the value of the goods at the time of
posting to indemnify any person injured by the delivery which files a notice of claim within
one year after the delivery.
History: 2004 c 162 art 4 s 39