Section 18-306 – Negotiation of Warehouse Receipt for Mortgaged Goods and Goods of Others

    A person may not deposit goods to which he has no title or on which there is a lien or security interest and take a negotiable warehouse receipt for the goods and negotiate it for value:

        (1)    With intent to defraud; and

        (2)    Without disclosing his lack of title or the existence of the lien or security interest.