Compiled Laws, Chapter 750. Michigan Penal Code § 750.278

Sec. 278.KNOWINGLY EXECUTING AND DELIVERING FRAUDULENT WAREHOUSE RECEIPTS--Any warehouseman or forwarding merchant or any other person, or the agent or servant of any warehouseman or forwarding merchant or other person, who shall knowingly execute and deliver to any person a receipt or certificate purporting to be for flour, wheat, pot or pearl ashes, or any grain, produce or thing of value, as being at the time of executing and delivering such receipt in possession of such warehouseman or forwarding merchant, or other person, or in store for the person or persons, copartnership, or firm named in any such receipt or certificate, without being at the time of executing and delivering such receipt in the actual possession of such flour, wheat, pot or pearl ashes, or any grain, produce or thing of value, as expressed in such certificate or receipt, shall be guilty of a felony, punishable by imprisonment in the state prison not more than 5 years or by fine of not more than 2,500 dollars.

The sending or forwarding to a person who shall be duly entitled or authorized to receive the same, by the public mails, or through the government postoffice, or by the hands of any person, of any such receipt or certificate as aforesaid, shall be deemed to be a good and lawful delivery thereof, within the meaning of this section.