Title 11, Chapter 7, Section 602
( 11-7-602)
Attachment of goods covered by a negotiable document. Except where the document was originally issued upon delivery of the
goods by a person who had no power to dispose of them, no lien
attaches by virtue of any judicial process to goods in the
possession of a bailee for which a negotiable document of title is
outstanding unless the document be first surrendered to the bailee
or its negotiation enjoined, and the bailee shall not be compelled
to deliver the goods pursuant to process until the document is
surrendered to him or impounded by the court. One who purchases the
document for value without notice of the process or injunction takes
free of the lien imposed by judicial process. |