7 U.S.C. § 250 — Warehouse receipts

Page 360 TITLE 7—AGRICULTURE § 249 (b) Liability A warehouse operator shall be severally liable to each depositor or holder for the care and re- delivery of the share of the depositor and holder of the commingled agricultural product to the same extent and under the same circumstances as if the agricultural products had been stored separately. (Aug. 11, 1916, ch. 313, pt. C, § 9, as added Pub. L. 106–472, title II, § 201, Nov. 9, 2000, 114 Stat. 2065.) Editorial Notes PRIOR PROVISIONS A prior section 248, acts Aug. 11, 1916, ch. 313, pt. C, § 9, 39 Stat. 487; Mar. 2, 1931, ch. 366, § 4, 46 Stat. 1464, re- lated to issuance of licenses to persons other than warehousemen, prior to the general amendment of this chapter by Pub. L. 106–472. See section 242 of this title. § 249. Transfer of stored agricultural products (a) In general In accordance with regulations promulgated under this chapter, a warehouse operator may transfer a stored agricultural product from one warehouse to another warehouse for continued storage. (b) Continued duty The warehouse operator from which agricul- tural products have been transferred under sub- section (a) shall deliver to the rightful owner of such products, on request at the original ware- house, such products in the quantity and of the kind, quality, and grade called for by the receipt or other evidence of storage of the owner. (Aug. 11, 1916, ch. 313, pt. C, § 10, as added Pub. L. 106–472, title II, § 201, Nov. 9, 2000, 114 Stat. 2065.) Editorial Notes PRIOR PROVISIONS A prior section 249, act Aug. 11, 1916, ch. 313, pt. C, § 7, 39 Stat. 487, entitled injured persons to bring actions on bonds, prior to the general amendment of this chapter by Pub. L. 106–472. See section 245 of this title. A prior section 10 of act Aug. 11, 1916, ch. 313, pt. C, was classified to section 251 of this title, prior to the general amendment of this chapter by Pub. L. 106–472. § 250. Warehouse receipts (a) In general At the request of the depositor of an agricul- tural product stored or handled in a warehouse licensed under this chapter, the warehouse oper- ator shall issue a receipt to the depositor as pre- scribed by the Secretary. (b) Actual storage required A receipt may not be issued under this section for an agricultural product unless the agricul- tural product is actually stored in the ware- house at the time of the issuance of the receipt. (c) Contents Each receipt issued for an agricultural product stored or handled in a warehouse licensed under this chapter shall contain such information, for each agricultural product covered by the re- ceipt, as the Secretary may require by regula- tion. (d) Prohibition on additional receipts or other documents (1) Receipts While a receipt issued under this chapter is outstanding and uncanceled by the warehouse operator, an additional receipt may not be issued for the same agricultural product (or any portion of the same agricultural product) represented by the outstanding receipt, except as authorized by the Secretary. (2) Other documents If a document is transferred under this sec- tion, no duplicate document in any form may be transferred by any person with respect to the same agricultural product represented by the document, except as authorized by the Secretary. (e) Electronic receipts and electronic documents Except as provided in section 242(h)(2) of this title, notwithstanding any other provision of Federal or State law: (1) In general The Secretary may promulgate regulations that authorize the issuance, recording, and transfer of electronic receipts, and the trans- fer of other electronic documents, in accord- ance with this subsection. (2) Electronic receipt or electronic document systems Electronic receipts may be issued, recorded, and transferred, and electronic documents may be transferred, under this subsection with respect to an agricultural product under, a system or systems maintained in one or more locations and approved by the Secretary in ac- cordance with regulations issued under this chapter. (3) Treatment of holder Any person designated as the holder of an electronic receipt or other electronic docu- ment issued or transferred under this chapter shall, for the purpose of perfecting the secu- rity interest of the person under Federal or State law and for all other purposes, be con- sidered to be in possession of the receipt or other electronic document. (4) Nondiscrimination An electronic receipt issued, or other elec- tronic document transferred, in accordance with this chapter shall not be denied legal ef- fect, validity, or enforceability on the ground that the information is generated, sent, re- ceived, or stored by electronic or similar means. (5) Security interests If more than one security interest exists in the agricultural product that is the subject of an electronic receipt or other electronic docu- ment under this chapter, the priority of the security interest shall be determined by the applicable Federal or State law. (6) No electronic receipt required A person shall not be required to issue in electronic form a receipt or document with re- spect to an agricultural product. Page 361 TITLE 7—AGRICULTURE § 253 (7) Option for non-federally licensed ware- house operators Notwithstanding any other provision of this chapter, a warehouse operator not licensed under this chapter may, at the option of the warehouse operator and in accordance with regulations established by the Secretary, issue electronic receipts and transfer other elec- tronic documents in accordance with this chapter. (8) Application to State-licensed warehouse op- erators This subsection shall not apply to a ware- house operator that is licensed under State law to store agricultural commodities in a warehouse in the State if the warehouse oper- ator elects— (A) not to issue electronic receipts author- ized under this subsection; or (B) to issue electronic receipts authorized under State law. (Aug. 11, 1916, ch. 313, pt. C, § 11, as added Pub. L. 106–472, title II, § 201, Nov. 9, 2000, 114 Stat. 2065.) Editorial Notes PRIOR PROVISIONS A prior section 250, acts Aug. 11, 1916, ch. 313, pt. C, § 8, 39 Stat. 487; Mar. 2, 1931, ch. 366, § 3, 46 Stat. 1463, au- thorized designation as bonded warehouse upon filing of bond and approval by Secretary, prior to the general amendment of this chapter by Pub. L. 106–472. A prior section 11 of act Aug. 11, 1916, ch. 313, pt. C, was classified to section 252 of this title, prior to the general amendment of this chapter by Pub. L. 106–472. § 251. Conditions for delivery of agricultural products (a) Prompt delivery In the absence of a lawful excuse, a warehouse operator shall, without unnecessary delay, de- liver the agricultural product stored or handled in the warehouse on a demand made by— (1) the holder of the receipt for the agricul- tural product; or (2) the person that deposited the product, if no receipt has been issued. (b) Payment to accompany demand Prior to delivery of the agricultural product, payment of the accrued charges associated with the storage of the agricultural product, includ- ing satisfaction of the warehouseman’s lien, shall be made if requested by the warehouse op- erator. (c) Surrender of receipt When the holder of a receipt requests delivery of an agricultural product covered by the re- ceipt, the holder shall surrender the receipt to the warehouse operator, in the manner pre- scribed by the Secretary, to obtain the agricul- tural product. (d) Cancellation of receipt A warehouse operator shall cancel each re- ceipt returned to the warehouse operator upon the delivery of the agricultural product for which the receipt was issued. (Aug. 11, 1916, ch. 313, pt. C, § 12, as added Pub. L. 106–472, title II, § 201, Nov. 9, 2000, 114 Stat. 2067.) Editorial Notes PRIOR PROVISIONS A prior section 251, acts Aug. 11, 1916, ch. 313, pt. C, § 10, 39 Stat. 487; Mar. 2, 1931, ch. 366, § 5, 46 Stat. 1464; Pub. L. 97–35, title I, § 158(a)(1), Aug. 13, 1981, 95 Stat. 375, authorized fee for warehouse examination, inspec- tion, and licensing, prior to the general amendment of this chapter by Pub. L. 106–472. See section 243 of this title. A prior section 12 of act Aug. 11, 1916, ch. 313, pt. C, was classified to section 253 of this title, prior to the general amendment of this chapter by Pub. L. 106–472. § 252. Suspension or revocation of licenses (a) In general After providing notice and an opportunity for a hearing in accordance with this section, the Secretary may suspend or revoke any license issued, or approval for an activity provided, under this chapter— (1) for a material violation of, or failure to comply, with any provision of this chapter (in- cluding regulations promulgated under this chapter); or (2) on the ground that unreasonable or exor- bitant charges have been imposed for services rendered. (b) Temporary suspension The Secretary may temporarily suspend a li- cense or approval for an activity under this chapter prior to an opportunity for a hearing for any violation of, or failure to comply with, any provision of this chapter (including regulations promulgated under this chapter). (c) Authority to conduct hearings The agency within the Department that is re- sponsible for administering regulations promul- gated under this chapter shall have exclusive authority to conduct any hearing required under this section. (d) Judicial review (1) Jurisdiction A final administrative determination issued subsequent to a hearing may be reviewable only in a district court of the United States. (2) Procedure The review shall be conducted in accordance with the standards set forth in section 706(2) of title 5. (Aug. 11, 1916, ch. 313, pt. C, § 13, as added Pub. L. 106–472, title II, § 201, Nov. 9, 2000, 114 Stat. 2067.) Editorial Notes PRIOR PROVISIONS A prior section 252, acts Aug. 11, 1916, ch. 313, pt. C, § 11, 39 Stat. 487; Feb. 23, 1923, ch. 106, 42 Stat. 1283; Mar. 2, 1931, ch. 366, § 6, 46 Stat. 1464, authorized license to classify, grade, or weigh agricultural products, prior to the general amendment of this chapter by Pub. L. 106–472. See section 242 of this title. A prior section 13 of act Aug. 11, 1916, ch. 313, pt. C, was classified to section 254 of this title, prior to the general amendment of this chapter by Pub. L. 106–472. § 253. Public information (a) In general The Secretary may release to the public the names, addresses, and locations of all persons—