80-4-532. Delivery of grain from different warehouse.
80-4-532. Delivery of grain from different warehouse. (1) Any warehouse operator owning or operating more than one warehouse in this state may deliver grain from one warehouse in settlement of warehouse receipts issued for grain stored in another warehouse when grain for storage has been presented at any warehouse in excess of its available storage capacity.
(2) Nothing in subsection (1) confers upon the warehouse operator a right to make delivery of grain of substantially lower value than that delivered for storage, though of the same technical grade, in settlement of warehouse receipts.
(3) The warehouse operator shall at all times keep on hand in bonded warehouses grain of sufficient quality and quantity to settle all outstanding warehouse receipts.
(4) Freight and other charges must be determined at the point of receipt.
History: En. Sec. 39, Ch. 539, L. 1983; amd. Sec. 20, Ch. 452, L. 1993.