Effective - 28 Aug 1977
411.515. Inventory required to be maintained — documents required to establish inventory. — 1. Every warehouseman shall maintain stored grain inventories of sufficient quantities, qualities and grade to meet at all times his storage obligations. Failure to maintain required inventories is a violation of this chapter.
2. Grain evidenced by outstanding and uncancelled negotiable warehouse receipts shall be maintained in the specific warehouse facility shown on the warehouse receipt issued when the grain was deposited originally. For the purposes of this chapter each separate warehouse facility must maintain such an inventory for negotiable warehouse receipts issued by it at that location.
3. Inventories representing stored grain obligations other than those described in subsection 2 of this section shall be represented by:
(1) Grain actually held in the warehouseman's licensed warehouse facility;
(2) Receipts or tickets for grain stored in a licensed warehouse in Missouri;
(3) Receipts or tickets for grain stored in a warehouse facility licensed under the United States Warehouse Act;
(4) Receipts or tickets issued by a warehouse facility located outside of the state of Missouri upon a determination by the director that such receipts or tickets are issued by a person who, due to his net worth, his having posted a cash or surety bond, which may include an irrevocable letter of credit in a form acceptable to the director, or his having otherwise satisfied the director that the integrity of the grain will be maintained, is able to protect the stored grain.
4. All stored grain shall be maintained in licensed facilities.
5. Title to any grain which is forwarded to any other warehouse for storage shall be evidenced as prescribed by the director by rule.
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(L. 1977 S.B. 75 § 6)
Structure Missouri Revised Statutes
Title XXVI - Trade and Commerce
Chapter 411 - Missouri Grain Warehouse Law
Section 411.010 - Short title.
Section 411.015 - Scope of law.
Section 411.020 - Application of law — construction of laws governing warehouse receipts.
Section 411.026 - Definitions.
Section 411.050 - Bond of director.
Section 411.061 - Director not to deal in grain, exception.
Section 411.070 - Director — powers and duties — rules, procedure.
Section 411.100 - Inspectors — qualifications.
Section 411.110 - Weighmasters — powers and duties.
Section 411.135 - Warehouseman to act as registrar of receipts — records to be kept.
Section 411.140 - Personnel of branch offices — appointment — qualifications — duties.
Section 411.145 - Department may conduct grain inspection business outside state, when.
Section 411.150 - Fees, how fixed.
Section 411.160 - Grain inspected and weighed by authorized inspectors — penalty.
Section 411.170 - Certificates shall be evidence — right of revocation.
Section 411.200 - Reinspection.
Section 411.263 - Fee for license.
Section 411.266 - Renewal of license — application, contents of — penalty for late renewal.
Section 411.268 - Schedule of charges to be filed, posted by warehouseman.
Section 411.271 - Examination of warehouse — paid for by whom — discrepancy, effect of.
Section 411.276 - Liability of surety not cumulative.
Section 411.278 - Amount of bond, how computed.
Section 411.280 - Warehouseman's net worth, requirements — deficiency, how corrected.
Section 411.281 - Additional bond required, when — amount, how determined.
Section 411.290 - Insurance required, exceptions — rules and regulations.
Section 411.301 - Director may enjoin violations.
Section 411.311 - Operation without license prohibited, penalty.
Section 411.321 - Terminal warehouseman to receive, inspect, weigh and grade grain.
Section 411.327 - Grain bank grain, how treated.
Section 411.331 - Grain may be withheld from going into terminal warehouse — when — how — penalties.
Section 411.341 - Grain may be stored in special bin — receipt to indicate.
Section 411.381 - Receipts, contents — prima facie evidence of holder's claim to grain.
Section 411.383 - Warehouse receipt register, how maintained.
Section 411.391 - Warehouseman may sell or pledge receipts issued for grain owned by him.
Section 411.401 - Grain accepted for storage in other public warehouse — form of trust receipts.
Section 411.410 - Receipts to be numbered — duplicates.
Section 411.420 - Lost receipts — procedure.
Section 411.491 - Warehouseman must deliver grain, when.
Section 411.511 - Warehouseman should deliver grain, to whom.
Section 411.515 - Inventory required to be maintained — documents required to establish inventory.
Section 411.517 - Records required to be kept.
Section 411.520 - Misfeasance or malfeasance — accepting money — improper influence — penalty.
Section 411.523 - Warehouseman liable for conversion, when.
Section 411.531 - Failure to take up and cancel receipt — warehouseman liable — when.
Section 411.551 - Alteration of receipt — effect of.
Section 411.561 - Receipt marked "duplicate" — meaning of.
Section 411.571 - Transferor of receipt to endorse.
Section 411.581 - Warranties on negotiation or transfer of receipt.
Section 411.591 - Endorser not a guarantor for other parties.
Section 411.601 - Certain devices prohibited where official state weights are given.
Section 411.611 - Issuance of receipt without receiving grain — penalty.
Section 411.621 - False statement — penalty.
Section 411.631 - Issuance of receipt without indicating warehouseman's ownership — penalty.
Section 411.641 - Improper delivery — penalty.
Section 411.651 - Fraudulent deposit of grain and negotiation of receipt — penalty.
Section 411.691 - Fee for public warehouse license, how computed.
Section 411.701 - Director may contract with federal agencies.
Section 411.750 - Safe working conditions to be maintained.
Section 411.755 - Failure to pay fees, effect of.
Section 411.760 - Remedies provided are in addition to and not exclusive.
Section 411.770 - Stealing grain, penalty.
Section 411.775 - Attorney general and prosecutors may prosecute upon complaint.