MARVIN MANDEL, Governor

679

without substantive change from Art. 14, §45.

The penalty provisions of present §45 now
appear in §18—401 of this title.

18-207. NEGOTIATION OF BILL OF LADING FOR MORTGAGED
GOODS AND GOODS OF OTHERS.

A PERSON MAY NOT SHIP GOODS TO WHICH HE HAS NO TITLE
08 ON WHICH THERE IS A LIEN OR SECURITY. INTEREST AND
TRANSFER A NEGOTIABLE BILL OF LADING FOR THE GOODS FOR
VALUE:

(1) WITH INTENT TO DEFRAUD; AND

(2) WITHOUT DISCLOSING HIS LACK OF TITLE OR
THE EXISTENCE OF THE LIEN OR SECURITY INTEREST.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 14, §47.

The penalty provisions of present §47 now
appear in §18—401 of this title.

SUBTITLE 3. WAREHOUSE RECEIPTS.

18-301. ISSUANCE OF WAREHOUSE RECEIPT FOR GOODS NOT
RECEIVED.

(A) A PERSON OR HIS AGENT OR OFFICER MAY NOT ISSUE
ANY WAREHOUSE RECEIPT, ACCEPTANCE OF AN ORDER, OR OTHER
VOUCHER FOR STORAGE OR DEPOSIT IN THE STATE OF ANY GOODS
IF, AT THE TIME THE INSTRUMENT IS ISSUED, THE GOODS ARE
NOT:

(1)   IN HIS ACTUAL POSSESSION OR CUSTODY;

(2)   ON HIS PREMISES; OR

(3)   UNDER HIS ABSOLUTE AND EXCLUSIVE CONTROL.

(B) A WAREHOUSEMAN      OR HIS OFFICER, AGENT, OR

EMPLOYEE MAY NOT ISSUE      OR AID IN ISSUING A WAREHOUSE

RECEIPT FOR ANY GOODS WITH    THE KNOWLEDGE THAT, AT THE

TIME THE WAREHOUSE RECEIPT IS ISSUED, THE GOODS:

(1) HAVE NOT BEEN RECEIVED BY THE
WAREHOUSEMAN; OR

(2)    ARE NOT UNDER THE CONTROL OF THE
WAREHOUSEMAN.

REVISOR'S NOTE: Subsection (a) of this section is
new language derived without substantive