Effective: June 29, 2011
Latest Legislation: House Bill 9 - 129th General Assembly
Title under warehouse receipt defeated in certain cases [UCC 7-205]
A buyer in ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of buying and selling such goods takes the goods free of any claim under a warehouse receipt even if the receipt is negotiable and has been duly negotiated.