1. Except as otherwise provided in subsection 3, a document of titleis negotiable if by its terms the goods are to be delivered to bearer or to the order of a named person. 2. A document of titleother than the one described in subsection 1 isnonnegotiable. A bill of lading that states that the goods are consigned to a named person is not made negotiable by a provision that the goods are to be delivered only against an order in a record signed by the same or another named person. 3. A document of title is nonnegotiable if,at the time itis issued, the document has a conspicuous legend, however expressed, that itis nonnegotiable. [S13, §3138-a2 – a5, -a7, -b1– b4, -b7, -b8, -b52; C24, 27,31, 35, 39,§8246 –8249, 8253, 8254, 8297, 9662 – 9665, 9667, 9956, 9959, 10005; C46, 50, 54, 58, 62, §487.2 – 487.5, 487.8, 487.9, 487.54, 542.2 – 542.5, 542.7, 554.28, 554.31, 554.77; C66, 71, 73, 75, 77, 79, 81, §554.7104]
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