Texas Business & Commerce Code
§ 251.008 — FAILURE TO DISCLOSE EXISTENCE OF LIEN ON GOODS
BC § 251.008Title 7. RECEIPTS, DOCUMENTS OF TITLE, AND OTHER INSTRUMENTS · Ch. 251. WAREHOUSE RECEIPTS
Statute text
View on source(a)A person who obtains a negotiable warehouse receipt describing goods subject to a lien may not, with intent to defraud, negotiate the receipt for value without disclosing the lien's existence.
(b)A person 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;
(2)a fine not to exceed $1,000; or
(3)both the fine and confinement.
Legislative history
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.