34.1-7-401. Irregularities in issue of receipt or bill or conduct of issuer.
(a) The obligations imposed by this article on an issuer apply to a document of title even if:
(i) 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;
(ii) The issuer violated laws regulating the conduct of its business;
(iii) The goods covered by the document were owned by the bailee when the document was issued; or
(iv) The person issuing the document is not a warehouse but the document purports to be a warehouse receipt.
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