Sec. 55.
Any person who deposits goods to which he has not title, or upon which there is a lien or mortgage, and who takes for such goods a negotiable receipt which he afterwards negotiates for value with intent to deceive and without disclosing his want of title or the existence of the lien or mortgage, shall be guilty of a crime, and upon conviction shall be punished for each offense by imprisonment not exceeding 1 year, or by a fine not exceeding 1,000 dollars, or by both.
History: 1909, Act 303, Eff. Sept. 1, 1909 ;-- CL 1915, 6617 ;-- CL 1929, 9618 ;-- CL 1948, 443.55
Structure Michigan Compiled Laws
Chapter 443 - Uniform Warehouse Receipts Act
Act 303 of 1909 - Uniform Warehouse Receipts Act (443.1 - 443.58)
Section 443.1-443.49 - Repealed. 1962, Act 174, Eff. Jan. 1, 1964.
Section 443.50 - Warehouse Receipts; Issuance for Goods Not Received, Penalty.
Section 443.51 - Warehouse Receipts; False Statement, Penalty.
Section 443.52 - Warehouse Receipts; Issuance of Duplicate Not Marked, Penalty.
Section 443.53 - Warehouse Receipts; Issuance for Warehouseman's Own Goods Without Stating, Penalty.
Section 443.54 - Warehouse Receipts; Delivery of Goods Without Obtaining, Penalty.
Section 443.55 - Warehouse Receipts; Negotiation by Depositor Without Title, Penalty.
Section 443.56-443.58 - Repealed. 1962, Act 174, Eff. Jan. 1, 1964.