1. (1) With knowledge that a negotiable warehouse receipt, the negotiation of which would transfer the right to the possession of the goods, is outstanding and uncancelled; and
2. (2) Without obtaining the possession of the warehouse receipt at or before the time of the delivery.

Except as provided by § 7-601 of this article, a warehouseman or his officer, agent, or employee may not deliver goods out of the possession of the warehouseman:

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

Formerly Art. 14A, § 54.