Minn. Stat. § 227.55

Current through Register Vol. 49, No. 8, August 19, 2024

Section 227.55 - NEGOTIATING RECEIPT WITHOUT CLEAR TITLE TO GOODS

Subdivision 1.Elements of crime.

If:

(1) a person deposits goods without having title to the goods or with a lien or mortgage on them;

(2) the person takes a negotiable receipt for the goods; and

(3) the person later negotiates the receipt for value with intent to deceive and without disclosing the lack of title or the existence of the lien or mortgage;

then the person is guilty of a crime.

Subd. 2.Penalty.

Whoever commits the crime described in subdivision 1 may be sentenced for each offense to imprisonment for not more than 364 days or to payment of a fine of not more than $3,000, or both.

Minn. Stat. § 227.55

(5164) 1913 c 161 s 55; 1984 c 628 art 3 s 11; 1986 c 444; 1988 c 469 art 3 s 1