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Texas Business & Commerce Code

§ 251.003 — WAREHOUSEMAN FAILING TO STATE WAREHOUSEMAN'S OWNERSHIP OF GOODS ON RECEIPT

BC § 251.003Title 7. RECEIPTS, DOCUMENTS OF TITLE, AND OTHER INSTRUMENTS · Ch. 251. WAREHOUSE RECEIPTS

Statute text

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(a)A warehouseman may not knowingly issue a negotiable warehouse receipt describing goods the warehouseman owns, whether solely, jointly, or in common, and is storing, unless the warehouseman states the warehouseman's ownership of the goods on the receipt.
(b)A warehouseman who violates this section commits an offense. An offense under this section is a misdemeanor punishable by:
(1)confinement in the county jail for a term of not more than one year; or
(2)a fine not to exceed $1,000.

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.

Source: Texas Business & Commerce Code § 251.003 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.