Section 18-306 - Negotiation of warehouse receipt for mortgaged goods and goods of others.
§ 18-306. Negotiation of warehouse receipt for mortgaged goods and goods of others.
A person may 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.
[An. Code 1957, art. 14A, § 55; 1975, ch. 49, § 3.]