A bill of lading is negotiable if the bill—
A bill of lading is negotiable if the bill—
(A) states that the goods are to be delivered to the order of a consignee; and
(B) does not contain on its face an agreement with the shipper that the bill is not negotiable.
Inserting in a negotiable bill of lading the name of a person to be notified of the arrival of the goods—
(A) does not limit its negotiability; and
(B) is not notice to the purchaser of the goods of a right the named person has to the goods.
A bill of lading is nonnegotiable if the bill states that the goods are to be delivered to a consignee. The indorsement of a nonnegotiable bill does not—
A bill of lading is nonnegotiable if the bill states that the goods are to be delivered to a consignee. The indorsement of a nonnegotiable bill does not—
(A) make the bill negotiable; or
(B) give the transferee any additional right.
(2) A common carrier issuing a nonnegotiable bill of lading must put “nonnegotiable” or “not negotiable” on the bill. This paragraph does not apply to an informal memorandum or acknowledgment.
(Pub. L. 103–272, § 1(e), July 5, 1994, 108 Stat. 1346.)
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