§ 26-3-7-24 — Duplicate receipts; restriction; requisites; bond

Indiana § 26-3-7-24

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

Text

While a receipt or ticket issued under this
chapter is outstanding and uncancelled by the issuing licensee, no other
receipt or ticket shall be issued for the grain or any part of the grain that
is covered by the receipt or ticket. However, if a receipt or ticket is lost,
stolen, or destroyed the owner of the receipt or ticket is entitled to a
new receipt that is a duplicate of the missing receipt or a new ticket that
is a substitute for the missing ticket. The duplicate receipt or substitute
ticket entitles the owner to all rights appertaining to the document for
which it was issued, and shall state that it is in lieu of the former receipt
or ticket and give the number and date of the former receipt or ticket.
If the missing document was a negotiable receipt, the issuing licensee
shall require an indemnity bond of double the market value of the grain
covered by the missing receipt in a form and with the surety that the
director may prescribe to fully protect all rights under the missing
receipt.
Formerly: Acts 1973, P.L.268, SEC.1. As amended by
P.L.125-1997, SEC.46.