Legislation
SECTION 7-201
Person That May Issue a Warehouse Receipt; Storage Under Bond
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 7, PART 2
Section 7--201. Person That May Issue a Warehouse Receipt; Storage Under
Bond.
(a) A warehouse receipt may be issued by any warehouse.
(b) If 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 is deemed to be a
warehouse receipt even if issued by a person that is the owner of the
goods and is not a warehouse.
Bond.
(a) A warehouse receipt may be issued by any warehouse.
(b) If 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 is deemed to be a
warehouse receipt even if issued by a person that is the owner of the
goods and is not a warehouse.