By Cain S.B. No. 1740
77R2719 AJA-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to requirements for establishing a warehouseman's lien.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Sections 7.209(a) and (b), Business & Commerce
1-5 Code, are amended to read as follows:
1-6 (a)(1) A warehouseman has a lien against the bailor on the
1-7 goods deposited [covered by a warehouse receipt] or on the proceeds
1-8 thereof in his possession for charges for storage or transportation
1-9 (including demurrage and terminal charges), insurance, labor, or
1-10 charges present or future in relation to the goods, and for
1-11 expenses necessary for preservation of the goods or reasonably
1-12 incurred in their sale pursuant to law.
1-13 (2) If the person on whose account the goods are held
1-14 is liable for like charges or expenses in relation to other goods
1-15 whenever deposited [and it is stated in the receipt that a lien is
1-16 claimed for charges and expenses in relation to other goods], the
1-17 warehouseman also has a lien against him for such charges and
1-18 expenses whether or not the other goods have been delivered by the
1-19 warehouseman. But against a person to whom a negotiable warehouse
1-20 receipt is duly negotiated a warehouseman's lien is limited to
1-21 charges in an amount or at a rate specified on the receipt or if no
1-22 charges are so specified then to a reasonable charge for storage of
1-23 the goods covered by the receipt subsequent to the date of the
1-24 receipt.
2-1 (b) The warehouseman may also reserve a security interest
2-2 against the bailor [for a maximum amount specified on the receipt]
2-3 for charges other than those specified in Subsection (a), such as
2-4 for money advanced and interest. If a warehouse receipt is issued
2-5 for the goods, the security interest is not valid against a third
2-6 person without notice to whom the receipt is duly negotiated unless
2-7 the maximum amount of the security interest is conspicuously
2-8 specified on the receipt. Such a security interest is governed by
2-9 the chapter on Secured Transactions (Chapter 9).
2-10 SECTION 2. This Act takes effect September 1, 2001. The
2-11 change in law made by this Act applies only to goods delivered to a
2-12 warehouseman on or after the effective date of this Act. Goods
2-13 delivered to a warehouseman before the effective date of this Act
2-14 are governed by the law in effect immediately before the effective
2-15 date of this Act, and that law is continued in effect for that
2-16 purpose.