1. (1) With intent to defraud; and
2. (2) Without disclosing his lack of title or the existence of the lien or security interest.

A person may not ship goods to which he has no title or on which there is a lien or security interest and transfer a negotiable bill of lading for the goods for value:

Added by Acts 1975, c. 49, § 3, eff. July 1, 1975.

Formerly Art. 14, § 47.