§ 11-11-114 — Stored grain to constitute bailment; amount in storage to equal issued storage certificates; exceptions; conversion; seizure

(a) The storage of grain with a warehouse and the movement
of grain by a warehouseman constitutes a bailment and not a
sale. Upon return of the scale ticket bearing the name of the
bailee or warehouse receipt properly endorsed and payment or
tender of all advances and charges, the owner of the scale
ticket or warehouse receipt is entitled to, and the warehouseman
or person operating a warehouse shall deliver the identical
grade and amount of grain placed in storage or transported.
Every person operating a warehouse shall maintain at all times
in storage, in the state of Wyoming, grain equal in amount and
grade to all scale tickets and warehouse receipts issued, unless
authorized in writing by holders of scale tickets or warehouse
receipts or by the department to move to other storage, and
failure to do so is a conversion thereof.
(b) Grain stored with a warehouse is not liable to seizure
upon process of a court against the bailee except upon action by
the owners of scale tickets or warehouse receipts to enforce the
terms of the scale tickets or receipts. In the event of the
failure or insolvency of the bailee, the grain shall be first
applied as soon as ownership is established and within one
hundred twenty (120) days exclusively to the redemption and
satisfaction of outstanding scale tickets and warehouse receipts
for grain stored or moved with the bailee and grain on hand in a
particular warehouse of the bailee shall be first applied to the
redemption and satisfaction of the scale tickets or receipts
issued by that warehouseman or person operating a warehouse as
the bailee.
(c) The department shall, by rule and regulation, require
posting of current tariffs.