Indiana § 26-3-7-19 Receipt of grain; ownership of deposited grain

Indiana Statutes

§ 26-3-7-19 — Receipt of grain; ownership of deposited grain

Indiana·Title 26 COMMERCIAL LAW·Art. 3 WAREHOUSES·Ch. 7 Indiana Grain Buyers and Warehouse Licensing and

(a)A licensee shall issue a receipt or ticket for grain received. Grain received by a licensee shall be credited to the depositor on the books of the licensee within seven (7) days from the date of its delivery. If a ticket is issued on delivery of the grain for storage, a receipt shall be issued on demand, but no receipt shall be issued on grain bank grain.

(b)The licensee is a bailee with respect to all stored grain. The person whose name appears on a receipt or a ticket has title to the stored grain evidenced by the receipt or ticket. Formerly: Acts 1973, P.L.268, SEC.1. As amended by Acts 1979, P.L.249, SEC.14; Acts 1982, P.L.155, SEC.13; P.L.125-1997, SEC.41.

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(a) A licensee shall issue a receipt or ticket
for grain received. Grain received by a licensee shall be credited to the
depositor on the books of the licensee within seven (7) days from the
date of its delivery. If a ticket is issued on delivery of the grain for
storage, a receipt shall be issued on demand, but no receipt shall be
issued on grain bank grain.
(b) The licensee is a bailee with respect to all stored grain. The
person whose name appears on a receipt or a ticket has title to the
stored grain evidenced by the receipt or ticket.
Formerly: Acts 1973, P.L.268, SEC.1. As amended by Acts
1979, P.L.249, SEC.14; Acts 1982, P.L.155, SEC.13; P.L.125-1997,
SEC.41.

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