Sec. 251.008. FAILURE TO DISCLOSE EXISTENCE OF LIEN ON GOODS. (a) A person who obtains a negotiable warehouse receipt describing goods subject to a lien may not, with intent to defraud, negotiate the receipt for value without disclosing the lien's existence.
(b) A person who violates this section commits an offense. An offense under this section is a misdemeanor punishable by:
(1) confinement in the county jail for a term of not more than one year;
(2) a fine not to exceed $1,000; or
(3) both the fine and confinement.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.
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