Upon the payment of all the accrued charges and the return of the storage receipt, a public warehouseman shall, if requested by the holder of an outstanding storage receipt, issue a new storage receipt to such holder and cancel the former receipt by endorsing thereon the words, “Canceled by the issuance of storage receipt No. ________,” and inserting the number of the new storage receipt. The canceled storage receipt shall be signed by the warehouseman and the holder.

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Source: SDC 1939, § 60.0316; SL 1985, ch 376, § 35.