Subdivision 1. Elements of crime. If:
(1) a warehouse operator owns goods solely, jointly, or in common with others;
(2) the goods are deposited with or held by the warehouse operator;
(3) the warehouse operator or an officer, agent, or employee of the warehouse operator issues or helps to issue a negotiable receipt for the goods;
(4) the receipt does not show the warehouse operator's ownership interest; and
(5) the issuer or helper knows of the warehouse operator's ownership interest;
then the issuer or helper is guilty of a crime.
Subd. 2. Penalty. Whoever commits the crime described in subdivision 1 may be sentenced for each offense to imprisonment for not more than one year or to payment of a fine of not more than $3,000, or both.
(5162) 1913 c 161 s 53; 1984 c 628 art 3 s 11; 1986 c 444; 1988 c 469 art 3 s 1
Structure Minnesota Statutes
Chapters 223 - 236A — Farm Products, Commercial Practices
Chapter 227 — Crimes Involving Warehouse Receipts
Section 227.50 — Issuing A Receipt For Goods One Does Not Have.
Section 227.51 — Receipt Containing False Statement; Penalty.
Section 227.52 — Issuing A Second Receipt Without "duplicate" On It.
Section 227.53 — Issuing Receipt Not Showing Operator Owns Goods.
Section 227.54 — Delivery Of Goods Without Getting Negotiable Receipt.
Section 227.55 — Negotiating Receipt Without Clear Title To Goods.