Ind. Code § 26-3-7-19

Receipt of grain; ownership of deposited grain

Applied in 1 court decision — leading case Smith v. Richert (1994)

Most recently applied in Smith v. Richert (September 1994)

Formerly: Acts 1973, P.L.268, SEC.1

Sec. 19. (a) A licensee shall issue a receipt or ticket for grain received. Grain received by a licensee shall be credited to the depositor on the books of the licensee within seven (7) days from the date of its delivery. If a ticket is issued on delivery of the grain for storage, a receipt shall be issued on demand, but no receipt shall be issued on grain bank grain.

(b) The licensee is a bailee with respect to all stored grain. The person whose name appears on a receipt or a ticket has title to the stored grain evidenced by the receipt or ticket.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.