California Penal Code 560.3 – Any person who deposits goods with a bailee, as defined in Section …
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Any person who deposits goods with a bailee, as defined in Section 7102 of the Uniform Commercial Code, to which he has not title or upon which there is a security interest and who takes for such goods a negotiable document of title which he afterwards negotiates for value with intent to deceive and without disclosing his want of title or the existence of the security interest shall be guilty of a crime, and upon conviction shall be punished for such offense by imprisonment not exceeding one year or by a fine not exceeding one thousand dollars ($1,000) or by both.
(Added by Stats. 1963, Ch. 819.)
Terms Used In California Penal Code 560.3
- Conviction: A judgement of guilt against a criminal defendant.
- person: includes a corporation as well as a natural person. See California Penal Code 7
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC