2006 Ohio Revised Code - 1307.06. (UCC 7-201) Who may issue a warehouse receipt; storage under government bond.

§ 1307.06. (UCC 7-201) Who may issue a warehouse receipt; storage under government bond.
 

(A)  A warehouse receipt may be issued by any warehouseman. 

(B)  Where goods including distilled spirits and agricultural commodities are stored under a statute requiring a bond against withdrawal or a license for the issuance of receipts in the nature of warehouse receipts, a receipt issued for the goods has like effect as a warehouse receipt even though issued by a person who is the owner of the goods and is not a warehouseman. 
 

HISTORY: 129 v S 5. Eff 7-1-62.
 

Not analogous to former RC § 1307.06 (RS § 3177y; 95 v 196; GC § 8293; Bureau of Code Revision, 10-1-53), repealed 129 v S 5, § 2, eff 7-1-62.

 

Official Comment

Provision added to cover storage under government bond or under licensing statute. 

It is not intended by reenactment of subsection (1) to repeal any provisions of special licensing or other statutes regulating who may become a warehouseman. See Section 10-103. Subsection (2) covers receipts issued by the owner for whiskey or other goods stored in bonded warehouses under such statutes as 26 U.S.C. Chapter 26. Limitations on the transfer of the receipts and criminal sanctions for violation of such limitations are not impaired. Section 7-103. Compare Section 7-401(d) on the liability of the issuer in such cases.