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2-17-221. Contents of receipts.
Arkansas Code — all titles (historical 2020) · legal_authorities
2-17-221. Contents of receipts.
(a) Every receipt issued for grain stored in a public grain warehouse shall conform to the requirements of § 4-7-202 and in addition shall embody within its written or printed terms:
(1) A statement that the holder of the receipt or the depositor of the grain shall demand the delivery of the grain on or before a date not later than one (1) year from the date specified by the public grain warehouseman;
(2) The net weight, number of bushels, and the percentage of dockage;
(3) The words “NOT NEGOTIABLE”, or “NEGOTIABLE”, according to the nature of the receipt, clearly and conspicuously printed or stamped thereon; and
(4) That the holder of the receipt or the depositor of the grain shall demand the delivery of the grain not later than the expiration of one (1) year from the date of the receipt.
(b)(1) Every receipt, whether negotiable or nonnegotiable, issued for grain stored in a warehouse shall specify a period, not exceeding one (1) year, for which the grain is accepted for storage under this subchapter.
(2) The warehouseman shall, in the absence of some lawful excuse, issue a new receipt for a further specified period not to exceed one (1) year, provided that the following conditions are met:
(A) Demand for issuance of a new receipt;
(B) Surrender of the old receipt by the lawful holder at or before the expiration of the period specified therein; and
(C) An offer to satisfy the warehouseman's lien.
(c) Every negotiable receipt issued shall, in addition to conforming with the requirements of subsection (a) of this section, embody within its written or printed terms a form of endorsement which may be used by the depositor or his or her authorized agent for showing the ownership of, and liens, mortgages, or other encumb
Source: Arkansas Code — historical release 78 (November 6, 2020) · 2-17-221
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:2-17-221
Source file: gov.ar.code.title.02.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 4fc096fb7ac07e032fc3a8ff8c023b28a41e2185b7e8139f8b946e6b46b90ef2
Source location: content.xml paragraph 4195
Stored source content
2-17-221. Contents of receipts.
(a) Every receipt issued for grain stored in a public grain warehouse shall conform to the requirements of § 4-7-202 and in addition shall embody within its written or printed terms:
(1) A statement that the holder of the receipt or the depositor of the grain shall demand the delivery of the grain on or before a date not later than one (1) year from the date specified by the public grain warehouseman;
(2) The net weight, number of bushels, and the percentage of dockage;
(3) The words “NOT NEGOTIABLE”, or “NEGOTIABLE”, according to the nature of the receipt, clearly and conspicuously printed or stamped thereon; and
(4) That the holder of the receipt or the depositor of the grain shall demand the delivery of the grain not later than the expiration of one (1) year from the date of the receipt.
(b)(1) Every receipt, whether negotiable or nonnegotiable, issued for grain stored in a warehouse shall specify a period, not exceeding one (1) year, for which the grain is accepted for storage under this subchapter.
(2) The warehouseman shall, in the absence of some lawful excuse, issue a new receipt for a further specified period not to exceed one (1) year, provided that the following conditions are met:
(A) Demand for issuance of a new receipt;
(B) Surrender of the old receipt by the lawful holder at or before the expiration of the period specified therein; and
(C) An offer to satisfy the warehouseman's lien.
(c) Every negotiable receipt issued shall, in addition to conforming with the requirements of subsection (a) of this section, embody within its written or printed terms a form of endorsement which may be used by the depositor or his or her authorized agent for showing the ownership of, and liens, mortgages, or other encumbrances on, the grain covered by the receipt.
(d) A public grain warehouseman shall not insert any language in any warehouse receipt or make any contract with respect to any warehouse receipt which purports to limit the liabilities or responsibilities imposed on him or her by law.
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Arkansas Code — all titles (historical 2020) · legal_authorities
4-7-202. Form of warehouse receipt — Effect of omission.
(a) A warehouse receipt need not be in any particular form.
(b) Unless a warehouse receipt provides for each of the following, the warehouse is liable for damages caused to a person injured by its omission:
(1) a statement of the location of the warehouse facility where the goods are stored;
(2) the date of issue of the receipt;
(3) the unique identification code of the receipt;
(4) a statement whether the goods received will be delivered to the bearer, to a named person, or to a named person or its order;
(5) the rate of storage and handling charges, unless goods are stored under a field warehousing arrangement, in which case a statement of that fact is sufficient on a nonnegotiable receipt;
(6) a description of the goods or the packages containing them;
(7) the signature of the warehouse or its agent;
(8) if the receipt is issued for goods that the warehouse owns, either solely, jointly, or in common with others, a statement of the fact of that ownership; and
(9) a statement of the amount of advances made and of liabilities incurred for which the warehouse claims a lien or security interest, unless the precise amount of advances made or liabilities incurred, at the time of the issue of the receipt, is unknown to the warehouse or to its agent that issued the receipt, in which case a statement of the fact that advances have been made or liabilities incurred and the purpose of the advances or liabilities is sufficient.
(c) A warehouse may insert in its receipt any terms that are not contrary to the Uniform Commercial Code and do not impair its obligation of delivery under § 4-7-403 or its duty of care under § 4-7-204. Any contrary provision is ineffective.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-7-202
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 4-7-202. This identifies an authority to review, not proof of applicability.