(A) Upon the request of a depositor, a licensed handler shall issue a receipt for any agricultural commodity that the handler has received from the depositor for storage under a bailment agreement. Even if the depositor has not requested that a receipt be issued, the agricultural commodity delivered for storage under a bailment agreement shall be considered to be in "open storage," and the responsibility of the bailee to the bailor shall remain the same as if a nonnegotiable receipt had been issued upon deposit of the commodity into the handler's warehouse.
No licensed handler shall receive an agricultural commodity for storage under a bailment agreement until the handler has weighed, inspected, and graded the commodity.
(B) The director of agriculture shall provide and print on distinctive paper, paper warehouse receipts. If the director considers it necessary, the director may authorize electronic warehouse receipts in accordance with guidelines established in rules adopted under section 926.02 of the Revised Code. Each receipt, paper or electronic, shall contain within its printed terms spaces for at least the following information:
(1) The location of the warehouse where the agriculture commodity is stored;
(2) The date of issuance of the receipt;
(3) The rate of storage charges or the basis for the charges;
(4) The net weight, the percentage of dockage or foreign material, and the grade of the commodity;
(5) "Negotiable" or "nonnegotiable" according to the nature of the receipt, conspicuously indicated on it;
(6) The signature of the licensed handler or the handler's authorized agent;
(7) A statement of the amount of advances made or liability incurred for which the handler claims a lien or, if the precise amount of advances made or liabilities incurred at the time of issuance of the receipt is unknown to the handler or to the agent who issues it, a statement of the fact that advances have been made or liabilities incurred;
(8) If the receipt is for a commodity that the handler owns, either wholly, jointly, or in common with others, the facts about the ownership;
(9) Any other information that the director may require by rule.
The director shall cause receipt forms to be distributed to licensed handlers at cost. The revenue from the distribution shall be remitted to the director and credited to the commodity handler regulatory program fund created in division (A) of section 926.19 of the Revised Code in the same manner as other fees collected under that division.
(C) All receipts issued by a licensed handler shall be numbered and issued consecutively.
(D) Before issuing any receipt, a licensed handler shall file with the director a certified copy of the handler's signature and the signature of any person the handler has authorized to issue receipts.
(E) No licensed handler shall fail to return to the director all receipts and tickets remaining unused on the date of revocation or termination of the handler's license.
(F) No person shall issue a receipt for any agricultural commodity except upon a receipt form furnished or authorized by the director under this section.
(G) No person, with intent to defraud, shall falsely make, alter, forge, counterfeit, or photograph a receipt.
Effective Date: 03-22-2001Section: Previous 926.14 926.141 926.15 926.16 926.17 926.18 926.19 926.20 926.21 926.22 926.23 926.24 926.25 926.26 926.27 Next
Last modified: October 10, 2016