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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 11 : Corporations, Partnerships and Associations

Chapter 007 : COOPERATIVES

Subchapter 002 : The Cooperative Marketing Act

(Cite as: 11 V.S.A. § 1024)
  • § 1024. Warehouse receipts

    When such corporations are warehousing corporations, they may issue negotiable or nonnegotiable warehouse receipts of the association against the commodities delivered, and such warehouse receipts shall be considered as adequate collateral to the extent of the usual and current value of the commodity represented thereby. In case such warehouse is licensed, or licensed and bonded, under the laws of this or any other state of the United States, its warehouse receipt delivered to the association on commodities of the association or its members, or delivered by the association or by its members, shall not be challenged or discriminated against because of ownership or control, wholly or in part, by the association.