A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or pursuant to this article is not liable for the goods even if:

1. (1) The person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or
2. (2) The person to which the bailee delivered the goods did not have authority to receive the goods.

(Prior version of this section added by Acts 1965, No. 549, p. 811; repealed by Act 2004-315, p. 464, §1; current section added by Act 2004-315, p. 464, §1.)