Person That May Issue a Warehouse Receipt; Storage Under Bond

1. Law
2. Georgia Code
3. Commercial Code
4. Warehouse Receipts, Bills of Lading, and Other Documents of Title
5. Warehouse Receipts: Special Provisions
6. Person That May Issue a Warehouse Receipt; Storage Under Bond

1. A warehouse receipt may be issued by any warehouse.
2. If 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 is deemed to be a warehouse receipt even if issued by a person that is the owner of the goods and is not a warehouse.

(Code 1933, § 109A-7 - 201, enacted by Ga. L. 1962, p. 156, § 1; Ga. L. 2010, p. 481, § 1-1/HB 451.)

The 2010 amendment, effective May 27, 2010, in the catchline, substituted "Person that" for "Who" at the beginning and deleted "government" preceding "bond" at the end; redesignated former subsections (1) and (2) as present subsections (a) and (b), respectively; substituted "warehouse" for "warehouseman" at the end of present subsections (a) and (b); and, in present subsection (b), substituted "If goods," for "Where" at the beginning, substituted "is deemed to be" for "has like effect as", and substituted "if issued by a person that" for "though issued by a person who" near the end. See the Editor's notes for applicability.

Editor's notes.

- Ga. L. 2010, p. 481, § 3-1, not codified by the General Assembly, provides that: "This Act applies to a document of title that is issued or a bailment that arises on or after the effective date of this Act. This Act does not apply to a document of title that is issued or a bailment that arises before the effective date of this Act even if the document of title or bailment would be subject to this Act if the document of title had been issued or bailment had arisen on or after the effective date of this Act. This Act does not apply to a right of action that has accrued before the effective date of this Act." This Act became effective May 27, 2010.

Ga. L. 2010, p. 481, § 3-2, not codified by the General Assembly, provides that: "A document of title issued or a bailment that arises before the effective date of this Act and the rights, documents, and interests flowing from that document or bailment are governed by any statute or other rule amended or repealed by this Act as if such amendment or repeal had not occurred and may be terminated, completed, consummated, or enforced under that statute or other rule." This Act became effective May 27, 2010.

RESEARCH REFERENCES

Am. Jur. 2d.

- 68A Am. Jur. 2d, Secured Transactions, § 109. 78 Am. Jur. 2d, Warehouses, § 42.

C.J.S.

- 93 C.J.S., Warehousemen and Safe Depositaries, § 25 et seq.

U.L.A.

- Uniform Commercial Code (U.L.A.) § 7-201.

ALR.

- Right of surety on warehouseman's bond to be subrogated to rights of owner of property stored as against third person, 4 A.L.R. 518.

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