§ 18-306. Negotiation of warehouse receipt for mortgaged goods and goods of others

Latest version.

   A person may not deposit goods to which he has no title or on which there is a lien or security interest and take a negotiable warehouse receipt for the goods and negotiate it for value:

   (1) With intent to defraud; and

   (2) Without disclosing his lack of title or the existence of the lien or security interest.

HISTORY: An. Code 1957, art. 14A, § 55; 1975, ch. 49, § 3.

                    
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