411.451. Fraudulent receipts prohibited--division or consolidation of receipts--delivery of grain. - Missouri Statutes

Fraudulent receipts prohibited--division or consolidation ofreceipts--delivery of grain.

411.451. 1. No warehouse receipt shall be issued exceptupon actual delivery of grain into store in the warehouse fromwhich it purports to be issued. Nor shall any receipt be issuedfor a greater quantity of grain than was contained in the lot orparcel so received for storage, nor shall more than one receiptbe issued for the same lot of grain, except in cases where areceipt for a part of a lot is desired, and then the aggregatereceipts for a particular lot shall cover that lot and no more.In cases where a part of the grain represented by the receipt, orreceipts, is delivered out of store and a remainder is left, thedirector shall prescribe the form of the document for theremainder of the grain and the manner in which it is to beissued.

2. In case it is desirable to divide one receipt into two ormore, or in the case it is desirable to consolidate two or morereceipts into one and the warehouseman consents, the originalreceipt, or receipts, shall be canceled in the same manner as ifthe grain had been delivered from store and the new receipt, orreceipts, shall express on the face thereof that the new receipt,or receipts, represent a part of another receipt or theconsolidation of other receipts, as the case may be, and thenumber and the date of the original receipt shall also appear onthe new receipt issued in lieu thereof. No consolidation ofreceipts differing more than thirty days in date shall bepermitted. All new receipts issued for old ones canceled, asherein provided, shall bear the notation of the date of thereceipt as originally issued.

3. A warehouseman shall not deliver grain for which he hasissued a negotiable receipt until the receipt has been returnedto him and canceled, and shall not deliver grain for which he hasissued a nonnegotiable receipt until the receipt has beenreturned to him or he has obtained from the person lawfullyentitled to the delivery, or his authorized agent, a writtenorder therefor. Before delivery is made of the last portion of alot of grain covered by a nonnegotiable receipt, the receiptitself shall be surrendered.

(L. 1965 p. 606)