(1) The document does not comply with the requirements of this chapter 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. [1961 c.726 §77.4010; 2009 c.181 §73]
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