Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1876-05-12
PUBLISHED BY AUTHORITY.
CHAPTER 262,l
BILLS or LADTNG, STORAGE, dc.

AN ACT
To promote the security of Commercial Iransac-
tions, by regulating the issue, negotiability
and transfer of bills ofladng, storage receipts
and like commercial instruments by defining
the rights of the holders thereof and by pre-
venting and Furnishing improper dealings with
the same or with the goods covered thereby.
Sec. l. BE it enacted by the General Assembly
of Maryland, That the folwng Article OF eight
Sections be and the same is hereby added TO and
made a part of the Code of Public General Laws
of the State, viz;
All bills of adng and all receipts, vouchers
or acknowledgements whatsoever, in writing, in
the nature, or stead of bills of adng, for goods,
chattels or commodities of any kind to be trans
ported on land or water, or on BOTH which shall
be executed in this State, or being executed else
where shall provide for the delivery OF goods,
cbattels or commodities of any kind within this
State. and any warehouse, elevator, or storage
receipts whatsoever, for goods, chattels, or COM
modities of any kind, stored and deposited, or IN
aid REGENTS stated or acknowledged to be stored
or deposited for any purpose, in any warehouse
elevator or other place of storage or deposit in
this State shall be and they are hereby constI-
tuted and declared 20 be negotiable instruments
and securities unless it be provided in express
terms to the contrary on the face thereof IN tue
same sense as bills of exchange and promissory
notes and full and complete title to the property
in said instruments mentioned or described ana,
all rights and remedies incident to such utle OF
arising under or derivable from the said instru-
ments, shall enure to, and be vested in each and
every bona fde holder thereoffor value altogether
unaffected by any rights or equities whatsoever
of or between the original or any other PRIOR
holders of, or parties to the same, of which sucn
bona 6de holder for value shall not have had
actual notice, at the time he became SUCH
2. Every instrument, of those mentioned ana
described in section one, which shall be issued
by any person or corporation, or by any agent
or officer of any person or corporation authorized
,o issue the same on his or its behalf or author
lied or permitted by such person Or corporation
10 issue like instruments his or its behalf Tor
goods. chattels, or commodities actually received
for transportation or held on storage, as the case
may be, shall be conclusive evidence, In the hands
of any bona fde holder for value of such instru-
ment. who shall have become such without
actual notice to the contrary, that all OF tue
goods, chattels, and commodities IN sara lnstru-
ment, mentioned or described, had been actually
received by, and were actually in the possession
and custody of such person or corporation at the
time of issuing the instrument according to the
r. nr1 fC he
effects therein stipulated or provided, notwlth-
standing that the fact may be otherwise, and that
such agent or officer may have had no authority
to issue any such instrument, on behalf OF ms
said principal, except for goods, chattels or com
modities actually received and in the possession
at the time of such issue.
8. Every acceptance of an order, and every
other voucher whatsoever, for any goods, chat
tells, or commodities, as on storage or deposit,
whereby the custody or possession OF such
goods, chattels, or commodities shall be ac-
knowledged or certified, by any warehouseman,
wharfnger or other person or corporation
within the State, and which acceptance or
voucher shall not on its face provide or stipu-
late in terms, that it snail not be negotiable,
shall be held and taken, when issued to be
negotiable receipt and instrument TO all in
tents and effects, within the meaning and ope-
ration of this article.
4. Any instrument declared negotiable by
this article, shall be held and taken to have
been issued, within the meaning of this article
when it shall have been signed, and shall have
been delivered out Of the custody Of the person
or corporation to be charged or bound by the
same, or of his or its agent or officer afore-
said.
5. No person or corporation, or agent, or
officer of any person or corporation in this
State shall issue any bill of lading. receipt
acknowledgement, or voucher whatsoever, for
goods chattels, or commodities of any kind to
be transported on land or water, or on both, or
any receipt, acceptance of an order or other
voucher for goods, chattels or commodities, as
on storage or deposit in this State, until and
unless the whole of the said goods, chattels,
and commodities, shall have been actually re-
ceived to be Transported by such person or cor
portation, in the one case, or shall be actually
in the possession or custody, or upon the pre-
misses, or under the absolute and exclusive con-
troll of such person or corporation in the other
case, at the time when such instrument shall
be issued, and any principal person or corpo-
ration, or any agent, or officer whatsoever, Of
any person or corporation, willfully violating
the provisions, or any provisions ofthis section,
shall be guilty of misdemeanor and on con-
yiction thereof shall be subject to fine Of not
less than one thousand, nor more than five
thousand dollars in the discretion of the Court.