24.32.040 Negotiable and Nonnegotiable Warehouse Receipt, Bill of Lading or Other Document of Title

(a) A warehouse receipt, bill of lading or other document of title is negotiable:

(1) If by its terms the goods are to be delivered to bearer or to the order of a named person; or

(2) Where recognized in overseas trade, if it runs to a named person or assigns.

(b) Any other document is nonnegotiable. A bill of lading in which it is stated that the goods are consigned to a named person is not made negotiable by a provision that the goods are to be delivered only against a written order signed by the same or another named person.