Tex. Bus. & Com. Code Section 251.007
Failure to Disclose Lack of Ownership of Goods

(a)

A person who obtains a negotiable warehouse receipt describing goods the person does not own may not, with intent to defraud, negotiate the receipt for value without disclosing the person’s lack of ownership.

(b)

A person who violates this section commits an offense. An offense under this section is a misdemeanor punishable by:

(1)

confinement in the county jail for a term of not more than one year;

(2)

a fine not to exceed $1,000; or

(3)

both the fine and confinement.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.

Source: Section 251.007 — Failure to Disclose Lack of Ownership of Goods, https://statutes.­capitol.­texas.­gov/Docs/BC/htm/BC.­251.­htm#251.­007 (accessed May 4, 2024).

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Accessed:
May 4, 2024

§ 251.007’s source at texas​.gov