The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1876-05-12
PUBLIC
GENERAL LAWS
PASSED BY THE
GENERAL ASSEMBLY OF MARYLAND
At the January Session, 1876.
PUBLISHED BY AUTHORITY.
[CHAPTER 262.
BILLS or LADLNG, STORAGE, dc.
AN ACT
PUBLISHED BY AUTHORITY.

AN ACT
To promote the security Of Commercial Transac-
tons, by regulating the issue, negotlability
and transfer of bills oflading, 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 10 and
made n 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 lading 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,
chattels or commodities of any kind within this
State, and any warehouse, elevator, or storage
receipts whatsoever, for goods, chattels, or com
modites of any kind, stored and deposited, or IN
said receipts 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 III the
same sense as bills Of exchange and promlssory
notes and full and complete title to the property
in said instruments mentioned or described and,
all rights and remedies incident to such title OF
arising under or derivable from the said nstru-
ments, shall enure to, and be vested IN each anu
every bona ide holder thereofio 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 fide holder for value shall not have had
actual notice, at the time he became such.
Q. Every instrument, of those mentioned and
described in section one, which shall he issued
by any person or corporation or by any agent
or officer of any person or corporation authorized
20 issue the same on his or its behalf, or author
lied or permitted by such person or corporation
to issue like instruments on his or its behalf Tor
goods, chattes, or commodities actually received
for transportation or held on storage, as the case
NAV be, shall be conclusive evidence, in the hands
of any bona fde holder for value of such nstru-
ment. who shall have become such without
actual notice to the contrary, that all OF the
goods chattels and commodities in said nstru-
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
Tenor thereof and for the purposes and to the
effects therein stipulated or provided, notwith-
standing that the fact may be otherwise, and that
such agent or officer may have had no authority
to issue any such instrument on behalfof his
said principal, except for goods, chattels or COM
modities actually received ana in the possession
at the time of such issue.
3. Every acceptance OF an order an2 every
other voucher whatsoever, for any gochs, chat
tells, or commodities, as on storage # deposit,
whereby the custody or possess1n of such
goods, chattels, or commodities Shall be ac-
knowledged or certified, by any /arehouseman,
wharinger 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 shall not be negotiable,
shall be held and taken, when issued TO be a
negotiable receipt and instrument 10 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
gooda 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, chatels or commodities, as
on storage or deposit in this State, until, and
unless the whole ofthe said goods, chattels,
and commodities, shall have been actually re-
ceived to be transported by suca 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-
viction thereof shall be subject to fine of not
less than one thousand, nor more than five
thousand dollars in the discretion of the Court.
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