1-1 By: Cain S.B. No. 1740
1-2 (In the Senate - Filed March 9, 2001; March 14, 2001, read
1-3 first time and referred to Committee on Business and Commerce;
1-4 April 19, 2001, reported favorably by the following vote: Yeas 5,
1-5 Nays 0; April 19, 2001, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to requirements for establishing a warehouseman's lien.
1-9 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-10 SECTION 1. Subsections (a) and (b), Section 7.209, Business
1-11 & Commerce Code, are amended to read as follows:
1-12 (a)(1) A warehouseman has a lien against the bailor on the
1-13 goods deposited [covered by a warehouse receipt] or on the proceeds
1-14 thereof in his possession for charges for storage or transportation
1-15 (including demurrage and terminal charges), insurance, labor, or
1-16 charges present or future in relation to the goods, and for
1-17 expenses necessary for preservation of the goods or reasonably
1-18 incurred in their sale pursuant to law.
1-19 (2) If the person on whose account the goods are held
1-20 is liable for like charges or expenses in relation to other goods
1-21 whenever deposited [and it is stated in the receipt that a lien is
1-22 claimed for charges and expenses in relation to other goods], the
1-23 warehouseman also has a lien against him for such charges and
1-24 expenses whether or not the other goods have been delivered by the
1-25 warehouseman. But against a person to whom a negotiable warehouse
1-26 receipt is duly negotiated a warehouseman's lien is limited to
1-27 charges in an amount or at a rate specified on the receipt or if no
1-28 charges are so specified then to a reasonable charge for storage of
1-29 the goods covered by the receipt subsequent to the date of the
1-30 receipt.
1-31 (b) The warehouseman may also reserve a security interest
1-32 against the bailor [for a maximum amount specified on the receipt]
1-33 for charges other than those specified in Subsection (a), such as
1-34 for money advanced and interest. If a warehouse receipt is issued
1-35 for the goods, the security interest is not valid against a third
1-36 person without notice to whom the receipt is duly negotiated unless
1-37 the maximum amount of the security interest is conspicuously
1-38 specified on the receipt. Such a security interest is governed by
1-39 the chapter on Secured Transactions (Chapter 9).
1-40 SECTION 2. This Act takes effect September 1, 2001. The
1-41 change in law made by this Act applies only to goods delivered to a
1-42 warehouseman on or after the effective date of this Act. Goods
1-43 delivered to a warehouseman before the effective date of this Act
1-44 are governed by the law in effect immediately before the effective
1-45 date of this Act, and that law is continued in effect for that
1-46 purpose.
1-47 * * * * *