Georgia § 11-7-402 - Duplicate document of title; overissue.

§ 11-7-402. Duplicate document of title; overissue.

A duplicate or any other document of title purporting to cover goods already represented by an outstanding document of the same issuer does not confer any right in the goods, except as provided in the case of tangible bills of lading in a set of parts, overissue of documents for fungible goods, substitutes for lost, stolen, or destroyed documents, or substitute documents issued pursuant to Code Section 11-7-105. The issuer is liable for damages caused by its overissue or failure to identify a duplicate document by a conspicuous notation. (Code 1933, § 109A-7 - 402, enacted by Ga. L. 1962, p. 156, § 1; Ga. L. 2010, p. 481, § 1-1/HB 451.) The 2010 amendment, effective May 27, 2010, substituted "document of title" for "receipt or bill" in the catchline; in the first sentence, substituted "A duplicate or" for "Neither a duplicate nor" at the beginning, substituted "does not confer" for "confers", substituted "tangible bills of lading in a set of parts" for "bills in a set", deleted "and" preceding "substitutes", and added ", or substituted documents issued pursuant to Code Section 11-7-105" at the end; and, in the second sentence, substituted "The" for "But the" at the beginning, substituted "its" for "his", and substituted "by a conspicuous notation" for "as such by conspicuous notation on its face" at the end. See the Editor's notes for applicability. Editor's notes. - Ga. L. 2010, p. 481, § 3-1, not codified by the General Assembly, provides that: "This Act applies to a document of title that is issued or a bailment that arises on or after the effective date of this Act. This Act does not apply to a document of title that is issued or a bailment that arises before the effective date of this Act even if the document of title or bailment would be subject to this Act if the document of title had been issued or bailment had arisen on or after the effective date of this Act. This Act does not apply to a right of action that has accrued before the effective date of this Act." This Act became effective May 27, 2010. Ga. L. 2010, p. 481, § 3-2, not codified by the General Assembly, provides that: "A document of title issued or a bailment that arises before the effective date of this Act and the rights, documents, and interests flowing from that document or bailment are governed by any statute or other rule amended or repealed by this Act as if such amendment or repeal had not occurred and may be terminated, completed, consummated, or enforced under that statute or other rule." This Act became effective May 27, 2010.