Nebraska Uniform Commercial Code 7-201

UCC 7-201

7-201.

Person that may issue a warehouse receipt; storage under 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.

Annotations

  • COMMENT

  • Prior Uniform Statutory Provision: Former section 7-201.

  • Changes: Update for style only.

  • Purposes:

  • It is not intended by reenactment of subsection (a) to repeal any provisions of special licensing or other statutes regulating who may become a warehouse. Limitations on the transfer of the receipts and criminal sanctions for violation of such limitations are not impaired. Section 7-103. Compare section 7-401(4) on the liability of the issuer in such cases. Subsection (b) covers receipts issued by the owner for whiskey or other goods stored in bonded warehouses under such statutes as 26 U.S.C. chapter 51.

  • Cross References:

  • Sections 7-103 and 7-401.

  • Definitional Cross References:

  • "Warehouse receipt". Section 1-201.

  • "Warehouse". Section 7-102.