Alaska Statutes: AS 45.07.602. Attachment of Goods Covered By a Negotiable Document.

Alaska Statutes. Title 45. Trade and Commerce Chapter 7. Warehouse Receipts, Bills of Lading, and Other Documents of Title Section 602. Attachment of Goods Covered By a Negotiable Document.

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AS 45.07.602. 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 judicial process to goods in the possession of a bailee for which a negotiable document of title is outstanding unless the document is first surrendered to the bailee or its negotiation enjoined, and the bailee may not be compelled to deliver the goods under process until the document is surrendered to the bailee or impounded by the court. One who purchases the document for value without notice of the process or injunction takes free of lien imposed by judicial process.

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