(a)
(1) Receipts must be issued for all grain stored in a warehouse in accordance with rules adopted under this subchapter.
(2) Receipts need not be issued against nonstorage grain, but each warehouseman shall keep accurate records of the weights, kinds, and grades, if graded, of all lots of nonstorage grain received into and delivered from his or her warehouse.
(b) Whenever the purpose for which any lot of nonstorage grain was received into a warehouse is changed so that its approximate delivery period from the warehouse becomes indeterminate, receipts shall be issued to cover the grain.
(c) Records required under this section with respect to nonstorage grain shall be retained, as a part of the records of the warehouse, for a period of one (1) year after December 31 of the year in which the lot of nonstorage grain is delivered from the warehouse.