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34-241a. Identity preserved grain; definition; form of receipt; options for shipment to other warehouse; charges.

34-241a

Chapter 34.--GRAIN AND FORAGE
Article 2.--INSPECTING, SAMPLING, STORING, WEIGHING AND GRADING GRAIN; TERMINAL AND LOCAL WAREHOUSES

      34-241a.   Identity preserved grain; definition; form of receipt;options for shipment to other warehouse; charges.(a) "Identity preserved grain" means grain which is segregated from allother grain by mutual consent of the warehouseman and the depositor. Theform of receipt to cover identity preserved grain taken for storage bypublic warehouses and to be transported to, and stored in, another licensedpublic warehouse shall be on a form approved by the secretaryand shallembody within its written or printed terms: (1) The date of theissuance ofthe receipts; (2) the name of the elevator issuing the same and itslocation; (3) the rate of storage or the basis for such charges; (4) thenet weight and percentage of dockage, together with the grade; (5)thewords "trust receipt" and "not negotiable" clearly and conspicuouslyprinted or stamped thereon; (6) the signature of the warehousemanwhich maybe made by his authorized agent; (7) a statement of the amount oftheadvances made, or the liabilities incurred, for which the warehouse claimsa lien. If the precise amount of advances made or liabilities incurred is,at the time of the issuance of the receipt, unknown to the warehouseman orto the warehouseman's agent who issues it, a statement of thefact that the advances havebeen made, or liabilities incurred, and the purpose thereof, is sufficient.

      (b)   The warehouseman, at the warehouseman's option, may shipcarlotsor trucklots ofidentity preserved grain to another licensed public warehouse. The owner ofthe grain may designate the receiving licensed public warehouse if awritten contract to that effect has been entered into and agreed uponbetween the owner of the grain and the warehouseman prior to the deposit ofthe grain. The charges for handling and storage shall not exceed thecurrent posted public warehouse charges. In addition to the publicwarehouse charges, the warehouseman may make an additional charge of oneand one-half cents (1 1/2[) per bushel for risk and shrinkage in transitand shall also assess the transportation and all legal charges against theowner of the grain.

      History:   L. 1969, ch. 217, § 1;L. 1997, ch. 160, § 28; Sept. 1.

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