Tennessee Code 59-13-136 – Interests in warehousing corporations
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Terms Used In Tennessee Code 59-13-136
- Association: means any corporation organized under this chapter. See Tennessee Code 59-13-103
- Person: means any individual, firm, partnership, corporation, and association. See Tennessee Code 59-13-103
- United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
If such corporations are warehousing corporations, they may issue legal warehouse receipts to the association against the commodities delivered by it, or to any other person and such legal warehouse receipts shall be considered as adequate collateral to the extent of the usual and current value of the commodity represented. In case such warehouse is licensed or licensed and bonded under the laws of this or any other state or the United States, its warehouse receipt delivered to the association on commodities of the association or its members, or delivered by the association or its members, shall not be challenged or discriminated against because of ownership or control, wholly or in part, by the association.