Printable Format84-7-201. Person that may issue a warehouse receipt; storage under bond. (a) A warehouse receipt may be issued by any warehouse.
(b) If 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 is deemed to be a warehouse receipt even if issued by a person that is the owner of the goods and is not a warehouse.
History: L. 2007, ch. 90, § 7; July 1, 2008.
KANSAS COMMENT, 1996
Subsection (1) is in accord with former K.S.A. 82-101. This subsection is permissive; a warehouseman need not issue a warehouse receipt under this Article. If the business is a warehouse, a receipt can be construed as a warehouse receipt despite the use of another name. Butler Mfg v. Americold Co., 835 F. Supp. 1274 (D. Kan. 1993). Under K.S.A. 34-238 a "licensed public warehouseman" may issue a warehouse receipt.
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., ch. 51. See also K.S.A. 34-228 through 34-230, providing for licensing and bonding of warehouses, and K.S.A. 34-240, permitting a public warehouseman to issue receipts on his own grain.
Revisor's Note:
Former section 84-7-201 repealed by L. 2007, ch. 90, § 78 and the number reassigned to the current text.
CASE ANNOTATIONS
1. PIK certificates as nonnegotiable, creditor's protection of security interest therein, right to proceeds therefrom determined. In re George, 85 B.R. 133, 134, 144 (1988).