§ 40.55

A warehouseman, or any officer, agent or servant of a warehouseman, who delivers goods out of the possession of such warehouseman, knowing that a negotiable receipt the negotiation of which would transfer the right to the possession of such goods is outstanding and uncancelled, without obtaining the possession of such receipt at or before the time of such delivery, shall, except in the cases provided for in subsection (a) of section 42a-7-601, or in case of good faith delivery upon the posting of security as provided in subsection (b) of said section, or after compliance with section 42a-7-210, be fined not more than one thousand dollars or imprisoned not more than one year or both.(1949 Rev., S. 6539; 1959, P.A. 574, S. 2; P.A. 04-64, S. 74.)History: 1959 act amended this section to conform to the Uniform Commercial Code; P.A. 04-64 made technical changes.