(c) A document of title is nonnegotiable if, at the time it is issued, the document has a conspicuous legend, however expressed, that it is nonnegotiable. SOUTH CAROLINA REPORTER’S COMMENTS The 2014 amendments added subsection (c), which provides that, notwithstanding subsection (a), a document of title is nonnegotiable if at the time it was issued it had a conspicuous legend stating that it is nonnegotiable. Section 36-7-105. (a) The omission from either part 2 or part 3 of this chapter of a provision corresponding to a provision made in the other part does not imply that a corresponding rule of law is not applicable. Upon request of a person entitled under an electronic document of title, the issuer of the electronic document may issue a tangible document of title as a substitute for the electronic document if: (1) the person entitled under the electronic document surrenders control of the document to the issuer; and (2) the tangible document when issued contains a statement that it is issued in substitution for the electronic document. (b) Upon issuance of a tangible document of title in substitution for an electronic document of title in accordance with subsection (a): (1) the electronic document ceases to have any effect or validity; and (2) the person that procured issuance of the tangible document warrants to all subsequent persons entitled under the tangible document that the warrantor was a person entitled under the electronic document when the warrantor surrendered control of the electronic document to the issuer. (c) Upon request of a person entitled under a tangible document of title, the issuer of the tangible document may issue an electronic document of title as a substitute for the tangible document if: (1) the person entitled under the tangible document surrenders possession of the document to the issuer; and (2) the electronic document when issued contains a statement that it is issued in substitution for the tangible document. (d) Upon issuance of an electronic document of title in substitution for a tangible document of title in accordance with subsection (c): (1) the tangible document ceases to have any effect or validity; and
value without notice of the process or injunction takes free of the lien imposed by judicial process. Section 367603. If more than one person claims title to or possession of the goods, the bailee is excused from delivery until he the bailee has had a reasonable time to ascertain the validity of the adverse claims or to bring commence an action to compel all claimants to interplead and may compel such 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.” SECTION 3. Section 362103(1) of the 1976 Code is amended to read: “(1) In this chapter unless the context otherwise requires: (a) ‘Buyer’ means a person who buys or contracts to buy goods. (b) ‘Good faith’ in the case of a merchant means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade [Reserved]. (c) ‘Receipt’ of goods means taking physical possession of them. (d) ‘Seller’ means a person who sells or contracts to sell goods.” SECTION 4. Section 36-2-103(3) of the 1976 Code is amended to read: “(3) ‘Control’ as provided in Section 36-7-106 and the The following definitions in other Chapters of Title 36 apply to this Chapter: ‘Check.’ Section 363104. ‘Consignee.’ Section 367102. ‘Consignor.’ Section 367102. ‘Consumer goods.’ Section 369109 36-9-102. ‘Dishonor.’ Section 363507. ‘Draft.’ Section 363104.” SECTION 5. Section 36-2-104(2) of the 1976 Code is amended to read:
damages allowed under Section 362A530, less expenses saved in consequence of the lessee’s default.” SECTION 24. Section 363103(a)(6) and (a)(13) of the 1976 Code is amended to read: “(6) ‘Good faith’ means honesty in fact and the observance of reasonable commercial standards of fair dealing ‘[Reserved]’. “(13) ‘Prove’ with respect to a fact means to meet the burden of establishing the fact (Section 361201(b)(8)).” SECTION 25. Section 364104(c) of the 1976 Code, as amended by Act 204 of 2008, is further amended to read: “(c) ‘Control’ as provided in Section 36-7-106 and the The following definitions in other chapters apply to this chapter: ‘Acceptance’ Section 363409. ‘Alteration’ Section 363407. ‘Cashier’s check’ Section 363104. ‘Certificate of deposit’ Section 363104. ‘Certified check’ Section 363409. ‘Check’ Section 363104. ‘Good Faith’ Section 36-3-103. ‘Holder in due course’ Section 363302. ‘Instrument’ Section 363104. ‘Notice of dishonor’ Section 363503. ‘Order’ Section 363103. ‘Ordinary care’ Section 363103. ‘Person entitled to enforce’ Section 363301. ‘Presentment’ Section 363501. ‘Promise’ Section 363103. ‘Prove’ Section 363103. ‘Record’ Section 363103. ‘RemotelyCreated consumer item’ Section 363103. ‘Teller’s check’ Section 363104. ‘Unauthorized signature’ Section 363403.” SECTION 26. Section 36-4-210(c) of the 1976 Code is amended to read: “(c) Receipt by a collecting bank of a final settlement for an item is a realization on its security interest in the item, accompanying documents, and proceeds. So long as the bank does