Sec. 25. Every warehouse receipt issued, whether paper or electronic, shall embody within its terms the following:
(1) The type, grade, and quantity of the grain stored as established by the official grain standards of the United States, unless:
(A) the identity of the grain is preserved in a special pile or special bin or otherwise; and
(B) a mark identifying the preserved grain appears on the face of the receipt.
(2) A statement that the receipt is issued subject to the Indiana Grain Buyers and Warehouse Licensing and Bonding Law, IC 26-3-7, and rules adopted under the Indiana Grain Buyers and Warehouse Licensing and Bonding Law.
(3) A clause that reserves to the licensee the right to terminate storage and collect outstanding charges against any lot of grain that remains in storage after June 30 following the date of the receipt.
(4) A clause that reserves to the licensee the right to terminate storage, shipping, and handling arrangements and collect outstanding charges upon the revocation of the licensee's license.
(5) Other terms and conditions as provided in the Uniform Warehouse Receipts Acts. However, nothing contained in the Uniform Warehouse Receipts Act shall require a receipt issued for grain to specifically state the variety of the grain by name.
(6) A clause that terminates storage on the date the license held by the licensee when the receipt was issued expires and reserves to the licensee the right to collect outstanding charges against any lot of grain.
(7) Other provisions prescribed by the director.
Formerly: Acts 1973, P.L.268, SEC.1; Acts 1974, P.L.120, SEC.13. As amended by P.L.125-1997, SEC.47; P.L.173-1999, SEC.11.
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