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Current as of January 01, 2025 | Updated by Findlaw Staff
Subdivision 1. Elements of crime.If:
(1) a warehouse operator owns goods solely, jointly, or in common with others;
(2) the goods are deposited with or held by the warehouse operator;
(3) the warehouse operator or an officer, agent, or employee of the warehouse operator issues or helps to issue a negotiable receipt for the goods;
(4) the receipt does not show the warehouse operator's ownership interest; and
(5) the issuer or helper knows of the warehouse operator's ownership interest;
then the issuer or helper is guilty of a crime.
Subd. 2. Penalty.Whoever commits the crime described in subdivision 1 may be sentenced for each offense to imprisonment for not more than 164 days or to payment of a fine of not more than $3,000, or both.
Cite this article: FindLaw.com - Minnesota Statutes Farm Products, Commercial Practices (Ch. 223-236A) § 227.53. Issuing receipt not showing operator owns goods - last updated January 01, 2025 | https://codes.findlaw.com/mn/farm-products-commercial-practices-ch-223-236a/mn-st-sect-227-53/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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