682

LAWS OF MARYLAND

[Ch. 49

The references to "§§ 14 and 36" of Art. 14A,
which do not presently exist, is corrected to
refer to their successor statute, §7—601 of
present Art. 95B, now contained in §7—601 of
this article.

The penalty provisions of present §54 now
appear in §18—401 of this title.

18-306. NEGOTIATION OF WAREHOUSE RECEIPT FOR MORTGAGED
GOODS AND GOODS OF OTHERS.

A PERSON WAY NOT DEPOSIT GOODS TO WHICH HE HAS NO

TITLE OR ON WHICH THERE IS A LIEN OR SECURITY INTEREST

AND TAKE A NEGOTIABLE WAREHOUSE RECEIPT FOR THE GOODS AND
NEGOTIATE IT 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. 14A, §55.

The penalty provisions of present §55 now
appear in §18—401 of this title.

18-307. BONDED WAREHOUSES.

A BONDED OR DISTILLERY WAREHOUSE, AS DEFINED BY THE
FEDERAL TARIFF ACT, LOCATED IN THE STATE IS SUBJECT TO
ALL PROVISIONS OF THIS SUBTITLE NOT INCONSISTENT WITH THE
TARIFF ACT.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 14A, §61.

The present provisions dealing with warehouse
receipts after February 27, 1906 are deleted
as obsolete.

For the provisions of the Tariff Act
regulating the conduct and operation of a
bonded or distillery warehouse, see 19 U.S.C.
§1311.

SUBTITLE 4. PENALTIES.

18-401. PENALTIES.

(A) VIOLATIONS OF §§ 18-201(A) AND 18-301(A).