§ 59

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 as provided in paragraph (c) of subsection (1) of section seven—four hundred and three and subsection (1) of section seven—six hundred and one of chapter one hundred and six, be punished by a fine of not more than one thousand dollars or by imprisonment for not more than one year, or both.