Sec. 7-201. Person that may issue a warehouse receipt; storage under bond.
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/il/chapter-810/act-5/7-201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 7-201. Person that may issue a warehouse receipt; storage under bond.
(a)A warehouse receipt may be issued by any warehouse.
(b)If goods, including distilled spirits and agricultural commodities, are stored under a statute requiring a bond against withdrawal or a license for the issuance of receipts in the nature of warehouse receipts, a receipt issued for the goods is deemed to be a warehouse receipt even if issued by a person that is the owner of the goods and is not a warehouse.