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Title XXVI TRADE AND COMMERCE

Chapter 411

previous next Effective - 10 Jun 1981, see footnotebottom

  411.381.  Receipts, contents — prima facie evidence of holder's claim to grain. — 1.  Every receipt issued for grain stored in a warehouse licensed under this chapter shall embody within its written or printed terms:

  (1)  The location of the warehouse where the grain is stored;

  (2)  The date of the issuance of the receipt;

  (3)  The consecutive number of the receipt;

  (4)  How received, whether by railroad, car, truck, or other means;

  (5)  A statement whether the grain received will be delivered to the bearer, to a specified person, or to a specific person or his order;

  (6)  The rate of storage and handling charges;

  (7)  The net weight in bushels and pounds and the percentage of dockage together with the grading factors and the grade;

  (8)  The words "nonnegotiable" or "negotiable" according to the nature of the receipt clearly and conspicuously printed or stamped thereon;

  (9)  The signature of the warehouseman which may be made by an authorized agent; and

  (10)  If the receipt is issued for grain of which the warehouseman is owner, either solely or jointly, or in common with others, the fact of such ownership.

  2.  A receipt, whether negotiable or nonnegotiable, is a document of title.  The warehouseman's failure to complete all entries on a receipt as required by this chapter and the rules promulgated pursuant to this chapter shall constitute a violation on the part of the warehouseman, but shall not preclude or restrict a depositor's right to recover stored grain under the provisions of this chapter.  The receipt shall constitute prima facie evidence of the holder's claim to the grain regardless of the degree of compliance with this chapter with respect to completion of the entries required by this chapter.

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(L. 1965 p. 606, A.L. 1981 S.B. 366)

Effective 6-10-81


---- end of effective   10 Jun 1981 ----

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