reglab/housing_qa huggingface dataset:
IN Code § 26-1-7-404 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-404. No Liability for Good Faith Delivery Upon Receipt or Bill

Sec. 404. A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or pursuant to this chapter is not liable for the goods even if:(1) the person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or(2) the person to which the bailee delivered the goods did not have authority to receive the goods.Formerly: Acts 1963, c.317, s.7-404. As amended by P.L.152-1986, SEC.256; P.L.143-2007, SEC.51.
IN Code § 26-1-7-501 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-501. Form of Negotiation and Requirements of "Due Negotiation"

Sec. 501. (a) The following rules apply to a negotiable tangible document of title:(1) If the document's original terms run to the order of a named person, the document is negotiated by the named person's endorsement and delivery. After the named person's endorsement in blank or to bearer, any person may negotiate the document by delivery alone.(2) If the negotiable document's original terms run to bearer, it is negotiated by delivery alone.(3) If the document's original terms run to the order of a named person and it is delivered to the named person, the effect is the same as if the document had been negotiated.(4) Negotiation of the document after it has been endorsed to a named person requires endorsement and delivery.(5) A negotiable document of title is "duly negotiated" when it is negotiated in the manner stated in this section to a holder who purchases it in good faith without notice of any defense against or claim to it on the part of any person and for value, unless it is established that the negotiation is not in the regular course of business or financing or involves receiving the document in settlement or payment of a money obligation.(b) The following rules apply to a negotiable electronic document of title:(1) If the document's original terms run to the order of a named person or to bearer, the document is negotiated by delivery of the document to another person. Endorsement by the named person is not required to negotiate the document.(2) If the document's original terms run to the order of a named person and the named person has control of the document, the effect is the same as if the document had been negotiated.(3) A document is duly negotiated if it is negotiated in the manner stated in this subsection to a holder that purchases it in good faith, without notice of any defense against or claim to it on the part of any person, and for value, unless it is established that the negotiation is not in the regular course of business or financing or involves taking delivery of the document in settlement or payment of a monetary obligation.(c) Endorsement of a nonnegotiable document of title neither makes it negotiable nor adds to the transferee's rights.(d) The naming in a negotiable bill of lading of a person to be notified of the arrival of the goods does not limit the negotiability of the bill or constitute notice to a purchaser of the bill of any interest of that person in the goods.Formerly: Acts 1963, c.317, s.7-501. As amended by P.L.143-2007, SEC.52.
IN Code § 26-1-7-502 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-502. Rights Acquired by Due Negotiation

Sec. 502. (a) Subject to sections 205 and 503 of this chapter, a holder to which a negotiable document of title has been duly negotiated acquires thereby:(1) title to the document;(2) title to the goods;(3) all rights accruing under the law of agency or estoppel, including rights to goods delivered to the bailee after the document was issued; and(4) the direct obligation of the issuer to hold or deliver the goods according to the terms of the document free of any defense or claim by the issuer except those arising under the terms of the document or under this chapter. In the case of a delivery order, the bailee's obligation accrues only upon the bailee's acceptance of the delivery order, and the obligation acquired by the holder is that the issuer and any endorser will procure the acceptance of the bailee.(b) Subject to section 503 of this chapter, title and rights acquired by due negotiation are not defeated by any stoppage of the goods represented by the document of title or by surrender of the goods by the bailee and are not impaired even if:(1) the due negotiation or any prior due negotiation constituted a breach of duty;(2) any person has been deprived of possession of a negotiable tangible document or control of a negotiable electronic document by misrepresentation, fraud, accident, mistake, duress, loss, theft, or conversion; or(3) a previous sale or other transfer of the goods or document has been made to a third person.Formerly: Acts 1963, c.317, s.7-502. As amended by P.L.152-1986, SEC.257; P.L.143-2007, SEC.53.
IN Code § 26-1-7-503 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-503. Form of Negotiation and Requirements of "Due Negotiation"

Sec. 503. (a) A document of title confers no right in goods against a person that before issuance of the document had a legal interest or a perfected security interest in the goods and that did not:(1) deliver or entrust the goods or any document of title covering the goods to the bailor or the bailor's nominee with:(A) actual or apparent authority to ship, store, or sell;(B) power to obtain delivery under section 403 of this chapter; or(C) power of disposition under IC 26-1-2-403, IC 26-1-9.1-320, or other statute or rule of law; or(2) acquiesce in the procurement by the bailor or its nominee of any document.(b) Title to goods based upon an unaccepted delivery order is subject to the rights of any person to which a negotiable warehouse receipt or bill of lading covering the goods has been duly negotiated. That title may be defeated under section 504 of this chapter to the same extent as the rights of the issuer or a transferee from the issuer.(c) Title to goods based upon a bill of lading issued to a freight forwarder is subject to the rights of any person to which a bill issued by the freight forwarder is duly negotiated. However, delivery by the carrier in accordance with sections 401 through 404 of this chapter pursuant to its own bill of lading discharges the carrier's obligation to deliver.Formerly: Acts 1963, c.317, s.7-503. As amended by P.L.152-1986, SEC.258; P.L.57-2000, SEC.37; P.L.143-2007, SEC.54.
IN Code § 26-1-7-504 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-504. Rights Acquired in the Absence of Due Negotiation; Effect of Diversion; Seller's Stoppage of Delivery

Sec. 504. (a) A transferee of a document of title, whether negotiable or nonnegotiable, to which the document has been delivered but not duly negotiated, acquires the title and rights that the transferor had or had actual authority to convey.(b) In the case of a transfer of a nonnegotiable document of title, until but not after the bailee receives notice of the transfer, the rights of the transferee may be defeated:(1) by those creditors of the transferor that could treat the transfer as void under IC 26-1-2-402 or IC 26-1-2.1-308;(2) by a buyer from the transferor in ordinary course of business if the bailee has delivered the goods to the buyer or received notification of the buyer's rights;(3) by a lessee from the transferor in ordinary course of business if the bailee has delivered the goods to the lessee or received notification of the lessee's rights; or(4) as against the bailee by good faith dealings of the bailee with the transferor.(c) A diversion or other change of shipping instructions by the consignor in a nonnegotiable bill of lading which causes the bailee not to deliver the goods to the consignee defeats the consignee's title to the goods if the goods have been delivered to a buyer in ordinary course of business or a lessee in ordinary course of business, and, in any event, defeats the consignee's rights against the bailee.(d) Delivery of the goods pursuant to a nonnegotiable document of title may be stopped by a seller under IC 26-1-2-705 or a lessor under IC 26-1-2.1-526 and subject to the requirements of due notification provided in those sections. A bailee that honors the seller's or lessor's instructions is entitled to be indemnified by the seller or the lessor against any resulting loss or expense.Formerly: Acts 1963, c.317, s.7-504. As amended by P.L.152-1986, SEC.259; P.L.143-2007, SEC.55.
IN Code § 26-1-7-505 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-505. Endorser Not a Guarantor for Other Parties

Sec. 505. The endorsement of a tangible document of title issued by a bailee does not make the endorser liable for any default by the bailee or previous endorsers.Formerly: Acts 1963, c.317, s.7-505. As amended by P.L.143-2007, SEC.56.
IN Code § 26-1-7-506 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-506. Delivery Without Endorsement; Right to Compel Endorsement

Sec. 506. The transferee of a negotiable tangible document of title has a specifically enforceable right to have the transferor supply any necessary endorsement but the transfer becomes a negotiation only as of the time the endorsement is supplied.Formerly: Acts 1963, c.317, s.7-506. As amended by P.L.143-2007, SEC.57.
IN Code § 26-1-7-507 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-507. Warranties on Negotiation or Transfer of Receipt or Bill

Sec. 507. If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under section 508 of this chapter, unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that:(1) the document is genuine;(2) the transferor has no knowledge of any fact that would impair the document's validity or worth; and(3) the negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.Formerly: Acts 1963, c.317, s.7-507. As amended by P.L.152-1986, SEC.260; P.L.143-2007, SEC.58.
IN Code § 26-1-7-508 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-508. Warranties of Collecting Bank as to Documents

Sec. 508. A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other claim against delivery of documents warrants by delivery of the documents only its own good faith and authority even if the collecting bank or other intermediary has purchased or made advances against the claim or draft to be collected.Formerly: Acts 1963, c.317, s.7-508. As amended by P.L.143-2007, SEC.59.
IN Code § 26-1-7-509 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-509. Receipt or Bill; When Adequate to Comply With Commercial Contract

Sec. 509. Whether a document of title is adequate to fulfill the obligations of a contract for sale, a contract for lease, or the conditions of a letter of credit is determined by IC 26-1-2, IC 26-1-2.1, or IC 26-1-5.1.Formerly: Acts 1963, c.317, s.7-509. As amended by P.L.152-1986, SEC.261; P.L.183-1996, SEC.5; P.L.143-2007, SEC.60.
IN Code § 26-1-7-601 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-601. Lost and Missing Documents

Sec. 601. (a) If a document of title is lost, stolen, or destroyed, a court may order delivery of the goods or issuance of a substitute document and the bailee may without liability to any person comply with the order. If the document was negotiable, a court may not order delivery of the goods or issuance of a substitute document without the claimant's posting security unless it finds that any person that may suffer loss as a result of nonsurrender of possession or control of the document is adequately protected against the loss. If the document was nonnegotiable, the court may require security. The court may also order payment of the bailee's reasonable costs and attorney's fees in an action under this subsection.(b) A bailee that, without a court order, delivers goods to a person claiming under a missing negotiable document of title is liable to any person injured thereby. If the delivery is not in good faith, the bailee is liable for conversion. Delivery in good faith is not conversion if the claimant posts security with the bailee in an amount at least double the value of the goods at the time of posting to indemnify any person injured by the delivery that files a notice of claim within one (1) year after the delivery.Formerly: Acts 1963, c.317, s.7-601. As amended by P.L.143-2007, SEC.61.
IN Code § 26-1-7-602 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-602. Attachment of Goods Covered by a Negotiable Document

Sec. 602. Unless a document of title was originally issued upon delivery of the goods by a person that did not have power to dispose of them, a lien does not attach by virtue of any judicial process to goods in the possession of a bailee for which a negotiable document of title is outstanding unless possession or control of the document is first surrendered to the bailee or the document's negotiation is enjoined. The bailee may not be compelled to deliver the goods pursuant to process until possession or control of the document is surrendered to the bailee or the court. A purchaser of the document for value without notice of the process or injunction takes free of the lien imposed by judicial process.Formerly: Acts 1963, c.317, s.7-602. As amended by P.L.143-2007, SEC.62.
IN Code § 26-1-7-603 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 7. Documents of Title|26-1-7-603. Conflicting Claims; Interpleader

Sec. 603. If more than one (1) person claims title to or possession of the goods, the bailee is excused from delivery until the bailee has a reasonable time to ascertain the validity of the adverse claims or to commence an action for interpleader. The bailee may assert an interpleader either in defending an action for nondelivery of the goods or by original action, whichever is appropriate.Formerly: Acts 1963, c.317, s.7-603. As amended by P.L.143-2007, SEC.63.
IN Code § 26-1-8.1-0.1 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 8.1. Investment Securities|26-1-8.1-0.1. Effect of Enactment of Chapter

Sec. 0.1. The addition of this chapter by P.L.247-1995 does not affect an action or a proceeding commenced before July 1, 1996.As added by P.L.220-2011, SEC.417.
IN Code § 26-1-8.1-0.3 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 8.1. Investment Securities|26-1-8.1-0.3. Perfection of Certain Security Interests; Continuation of Perfection

Sec. 0.3. If a security interest in a security is perfected before July 1, 1996, and the action by which the security interest was perfected would suffice to perfect a security interest under this chapter, as added by P.L.247-1995, no further action is required to continue perfection. If a security interest in a security is perfected on July 1, 1996, but the action by which the security interest was perfected would not suffice to perfect a security interest under this chapter, as added by P.L.247-1995, the security interest remains perfected for a period of four (4) months after the effective date and continues perfected thereafter if appropriate action to perfect this chapter, as added by P.L.247-1995, is taken within that period. If a security interest is perfected on July 1, 1996, and the security interest can be perfected by filing under this chapter, as added by P.L.247-1995, a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect.As added by P.L.220-2011, SEC.418.
IN Code § 26-1-8.1-101 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 8.1. Investment Securities|26-1-8.1-101. Short Title

Sec. 101. IC 26-1-8.1 may be cited as Uniform Commercial Code─Investment Securities.As added by P.L.247-1995, SEC.10.
IN Code § 26-1-8.1-103 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 8.1. Investment Securities|26-1-8.1-103. Classification as Security or Financial Asset

Sec. 103. (a) A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security.(b) An "investment company security" is a security. "Investment company security" means a share or similar equity interest issued by an entity that is registered as an investment company under the federal investment company laws, an interest in a unit investment trust that is so registered, or a face amount certificate issued by a face amount certificate company that is so registered. Investment company security does not include an insurance policy or endowment policy or annuity contract issued by an insurance company.(c) An interest in a partnership or limited liability company is not a security unless it is dealt in or traded on securities exchanges or in securities markets, its terms expressly provide that it is a security governed by IC 26-1-8.1, or it is an investment company security. However, an interest in a partnership or limited liability company is a financial asset if it is held in a securities account.(d) A writing that is a security certificate is governed by IC 26-1-8.1 and not by IC 26-1-3.1, even though it also meets the requirements of that article. However, a negotiable instrument governed by IC 26-1-3.1 is a financial asset if it is held in a securities account.(e) An option or a similar obligation issued by a clearing corporation to its participants is not a security, but it is a financial asset.(f) A commodity contract (as defined in IC 26-1-9.1-102(a)(15)) is not a security or a financial asset.(g) A document of title is not a financial asset unless section 102(a)(9)(iii) of this chapter applies.As added by P.L.247-1995, SEC.10. Amended by P.L.57-2000, SEC.38; P.L.143-2007, SEC.64.
IN Code § 26-1-8.1-104 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 8.1. Investment Securities|26-1-8.1-104. Acquisition of a Security or Financial Asset

Sec. 104. (a) A person acquires a security or an interest therein, under IC 26-1-8.1, if:(1) the person is a purchaser to whom a security is delivered under IC 26-1-8.1-301; or(2) the person acquires a security entitlement to the security under IC 26-1-8.1-501.(b) A person acquires a financial asset, other than a security, or an interest therein, under IC 26-1-8.1, if the person acquires a security entitlement to the financial asset.(c) A person who acquires a security entitlement to a security or other financial asset has the rights specified in IC 26-1-8.1-501 through IC 26-1-8.1-511, but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in IC 26-1-8.1-503.(d) Unless the context shows that a different meaning is intended, a person who is required by other law, regulation, rule, or agreement to transfer, deliver, present, surrender, exchange, or otherwise put in the possession of another person a security or financial asset satisfies that requirement by causing the other person to acquire an interest in the security or financial asset under subsection (a) or (b).As added by P.L.247-1995, SEC.10.
IN Code § 26-1-8.1-105 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 8.1. Investment Securities|26-1-8.1-105. Notice of Adverse Claim

Sec. 105. (a) A person has notice of an adverse claim if:(1) the person knows of the adverse claim;(2) the person is aware of facts sufficient to indicate that there is a significant probability that the adverse claim exists and deliberately avoids information that would establish the existence of the adverse claim; or(3) the person has a duty, imposed by statute or regulation, to investigate whether an adverse claim exists, and the investigation so required would establish the existence of the adverse claim.(b) Having knowledge that a financial asset or interest therein is or has been transferred by a representative imposes no duty of inquiry into the rightfulness of a transaction and is not notice of an adverse claim. However, a person who knows that a representative has transferred a financial asset or interest therein in a transaction that is, or whose proceeds are being used, for the individual benefit of the representative or otherwise in breach of duty has notice of an adverse claim.(c) An act or event that creates a right to immediate performance of the principal obligation represented by a security certificate or sets a date on or after which the certificate is to be presented or surrendered for redemption or exchange does not itself constitute notice of an adverse claim except in the case of a transfer more than:(1) one (1) year after a date set for presentment or surrender for redemption or exchange; or(2) six (6) months after a date set for payment of money against presentation or surrender of the certificate, if money was available for payment on that date.(d) A purchaser of a certificated security has notice of an adverse claim if the security certificate:(1) whether in bearer or registered form, has been endorsed "for collection" or "for surrender" or for some other purpose not involving transfer; or(2) is in bearer form and has on it an unambiguous statement that it is the property of a person other than the transferor, but the mere writing of a name on the certificate is not such a statement.(e) Filing of a financing statement under IC 26-1-9.1 is not notice of an adverse claim to a financial asset.As added by P.L.247-1995, SEC.10. Amended by P.L.57-2000, SEC.39.