Texas Agriculture Code 14A.008 – Exchange of Cotton Receipts
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(a) A person may exchange a nonnegotiable receipt for cotton for a negotiable receipt for cotton by:
(1) returning the nonnegotiable receipt to the warehouse issuing it; and
(2) complying with the provisions of this chapter relating to negotiable receipts.
(b) When the negotiable receipt is surrendered or canceled, the public warehouse operator shall mark or stamp “canceled” in ink on the face of the receipt.
Terms Used In Texas Agriculture Code 14A.008
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005