N.Y. Uniform Commercial Code 7-201 – Person That May Issue a Warehouse Receipt; Storage Under Bond
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Section 7–201. Person That May Issue a Warehouse Receipt; Storage Under
Terms Used In N.Y. Uniform Commercial Code 7-201
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See N.Y. Uniform Commercial Code 7-102
- Statute: A law passed by a legislature.
- Warehouse: means a person engaged in the business of storing goods for hire. See N.Y. Uniform Commercial Code 7-102
Bond.
(a) A warehouse receipt may be issued by any warehouse.
(b) If goods, including distilled spirits and agricultural commodities, are stored under a statute requiring a bond against withdrawal or a license for the issuance of receipts in the nature of warehouse receipts, a receipt issued for the goods is deemed to be a warehouse receipt even if issued by a person that is the owner of the goods and is not a warehouse.