Section 440.7201 - Warehouse receipts; issuance; storage under government bond.
UNIFORM COMMERCIAL CODE (EXCERPT)
Act 174 of 1962
440.7201 Warehouse receipts; issuance; storage under government bond.
Sec. 7201.
(1) A warehouse receipt may be issued by any warehouseman.
(2) Where goods including distilled spirits and agricultural commodities are stored under a statute requiring a bond against withdrawal or a license for the issuance of receipts in the nature of warehouse receipts, a receipt issued for the goods has like effect as a warehouse receipt even though issued by a person who is the owner of the goods and is not a warehouseman.
History: 1962, Act 174, Eff. Jan. 1, 1964