Section R. 436.1817 - Warehouse receiptsRule 17. A person shall not sell, offer for sale or in any manner assign or transfer in this state warehouse receipts for spirits, wherever the spirits are located, except as follows:
(a) An isolated transaction in which a warehouse receipt for spirits is sold, offered for sale or delivered by a bona fide owner or pledgee thereof, such sale or offer for sale or delivery not being made in the course of repeated or successive transactions of a like character by the owner or pledgee, and the owner or pledgee not being a dealer or issuer or salesman of such warehouse receipts.(b) A sale of warehouse receipts for spirits by a manufacturer.(c) A sale made to a bank, trust company, insurance company, or broker or dealer in warehouse receipts for spirits.Mich. Admin. Code R. 436.1817