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JOHN LEE CARROLL, ESQUIRE, GOVERNOR
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463
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CHAPTER 262.
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AN ACT to promote the security of commercial
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transactions by regulating the issue, negotiability
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and transfer of bills of lading, storage receipts and
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like commercial instruments, by defining the
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rights of the holders thereof, and by preventing
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and punishing improper dealings with the same
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or with the goods covered thereby.
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SECTION 1. Be it enacted by the General Assembly of
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Maryland, That the following article of eight sections
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Additional
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be, and the same is hereby added to and made a
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sections.
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part of the Code of Public General Laws of the
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State, viz :
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1. All bills of lading and all receipts, vouchers or
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acknowledgments whatsoever in writing, in the na-
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Provide for.
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ture or stead of bills of lading for goods, chattels or
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commodities of any kind, to be transported on land
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or water, or on both, which shall be executed in this
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State or being executed elsewhere, shall provide for
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the delivery of goods, chattels or commodities of
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any kind within this State, and all warehouse, ele-
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vator or storage receipts whatsoever for goods, chat-
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tels or commodities of any kind stored or deposited,
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or in said receipts stated or acknowledged to be
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etored or deposited for any purpose in any warehouse,
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elevator or other place of storage or deposit in this
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State, shall be and they are hereby constituted and
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Constituted
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declared to be negotiable instruments and securities,
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unless it b'e provided in express terms to the contrary
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on the face thereof, in the same sense as bills of ex-
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change and promissory notes, and full and complete
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title to the property in said instruments mentioned
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or described, and all rights and remedies incident to
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such title or arising under or derivable from the said
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instruments, shall enure to and be vested in each and
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every bona fide holder thereof, for value altogether
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unaffected by any rights or equities whatsoever of
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or between the original or any other prior holders
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of or parties to the same, of which such bona fide
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holder for value shall not have had actual notice at
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the time he became such.
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