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Current through October 23, 2012
(1) A warehouse receipt may be issued by any warehouseman.
(2) Where goods including distilled spirits and agricultural commodities are stored under a statute requiring a bond against withdrawal or a license for the issuance of receipts in the nature of warehouse receipts, a receipt issued for the goods has like effect as a warehouse receipt even though issued by a person who is the owner of the goods and is not a warehouseman.
(Dec. 30, 1963, 77 Stat. 719, Pub. L. 88-243, § 1.)
HISTORICAL AND STATUTORY NOTES
UNIFORM COMMERCIAL CODE COMMENT
Prior Uniform Statutory Provision
Section 1, Uniform Warehouse Receipts Act.Changes
Provision added to cover storage under government bond or under licensing statute.Purposes
It is not intended by reenactment of subsection (1) to repeal any provisions of special licensing or other statutes regulating who may become a warehouseman. See Section 10-103. Subsection (2) covers receipts issued by the owner for whiskey or other goods stored in bonded warehouses under such statutes as 26 U.S.C. Chapter 26. Limitations on the transfer of the receipts and criminal sanctions for violation of such limitations are not impaired. Section 7- 103. Compare Section 7-401(d) on the liability of the issuer in such cases.
Cross References
Sections 7-103, 7-401, 10-103.
Definitional Cross References
"Warehouse receipt". Section 1-201.
"Warehouseman". Section 7-102.
Prior Codifications
1981 Ed., § 28:7-201.
1973 Ed., § 28:7-201.
