411.401. Grain accepted for storage in other public warehouse--form of trust receipts.
Grain accepted for storage in other public warehouse--form of trustreceipts.
411.401. If the grain is offered for storage in any licensedpublic warehouse and the warehouseman does not have storage spaceto handle the same, the public warehouseman, with the consent ofthe owner and at his option, may accept grain shipment to apublic warehouse where storage is available. The form of trustreceipt to cover grain for storage by public warehouses, and tobe transported to and stored in a public warehouse, shall be on aform approved by the director of agriculture and shall embodywithin its written or printed terms:
(1) The date of the issuance of the receipts;
(2) The name of the warehouse issuing the same and itslocation;
(3) The rate of storage or the basis for the charges;
(4) The net weight in bushels and pounds and percentage ofdockage together with the grade;
(5) The words "trust receipt" and "nonnegotiable" clearlyand conspicuously printed or stamped thereon;
(6) The signature of the warehouseman, which may be made byhis authorized agent and filed with the director;
(7) A statement of the amount of the advances made, or theliabilities incurred, for which the warehouse claims a lien, butif the precise amount of advances made, or the liabilitiesincurred, be at the time of the issuance of the receipt unknownto the warehouseman, or to his agent who issues it, a statementof the fact that the advances have been made, or liabilitiesincurred, and the purpose thereof, is sufficient.
(L. 1965 p. 606)