400.7-601. Lost and missing documents. - Missouri Statutes

Lost and missing documents.

400.7-601. (1) If a document has been lost, stolen ordestroyed, a court may order delivery of the goods or issuance ofa substitute document and the bailee may without liability to anyperson comply with such order. If the document was negotiablethe claimant must post security approved by the court toindemnify any person who may suffer loss as a result ofnonsurrender of the document. If the document was notnegotiable, such security may be required at the discretion ofthe court. The court may also in its discretion order payment ofthe bailee's reasonable costs and counsel fees.

(2) A bailee who without court order delivers goods to aperson claiming under a missing negotiable document is liable toany person injured thereby, and if the delivery is not in goodfaith becomes liable for conversion. Delivery in good faith isnot conversion if made in accordance with a filed classificationor tariff or, where no classification or tariff is filed, if theclaimant posts security with the bailee in an amount at leastdouble the value of the goods at the time of posting to indemnifyany person injured by the delivery who files a notice of claimwithin one year after the delivery.

(L. 1963 p. 503 § 7-601)