75-43-11 - Warehouse receipts negotiable; sale or pledge of receipts. - Mississippi Statutes

§ 75-43-11. Warehouse receipts negotiable; sale or pledge of receipts.
 

(1)  All warehouse receipts issued are hereby made negotiable, transferable and assignable, provided that when the warehouse receipt is issued to a tenant, it shall be issued only subordinate to the landlord's lien and the name of such landlord shall be given thereon. Provided, however, this chapter shall in no way be construed to impair or affect the landlord's lien or any lien created by written instrument and duly recorded as provided by law. 

(2)  A farm warehouseman may make a valid sale or pledge of any warehouse receipts issued for his own grain stored in his farm warehouse, and the recital of ownership in the receipt shall constitute notice of the right to sell or pledge the same and of the title or specified lien of the transferee or pledgee upon the warehouseman's grain represented by the receipts. 
 

Sources: Codes, 1930, § 3545; 1942, § 5076; Laws,  1924, ch. 270; Laws, 1978, ch. 434, § 16, eff from and after July 1, 1978.