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Indiana Code Title 26. Commercial Law § 26-3-7-19

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 19.  (a) A licensee shall issue a receipt or ticket for grain received.  Grain received by a licensee shall be credited to the depositor on the books of the licensee within seven (7) days from the date of its delivery.  If a ticket is issued on delivery of the grain for storage, a receipt shall be issued on demand, but no receipt shall be issued on grain bank grain.

(b) The licensee is a bailee with respect to all stored grain.  The person whose name appears on a receipt or a ticket has title to the stored grain evidenced by the receipt or ticket.

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Cite this article: FindLaw.com - Indiana Code Title 26. Commercial Law § 26-3-7-19 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-26-commercial-law/in-code-sect-26-3-7-19/

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