PURPOSE: To revise this rule that defines warehouse
receipts and establish rules governing their use in business practices, to
reflect the division's name change to Division of Alcohol and Tobacco Control
in all applicable sections.
(1) The term warehouse receipt, as used in
RSMo, is defined to mean any warehouse receipt issued for the storage of
intoxicating liquor which can be negotiated and any nonnegotiable warehouse
receipt which can be assigned, transferred, or sold.
Any person or entity licensed by the
supervisor of alcohol and tobacco control to sell intoxicating liquor may
pledge any warehouse receipt(s) owned by him/her to secure the payment of any
debt to any person or entity in Missouri. Any Missouri state bank or trust
company which is a member of the Federal Reserve System and any national bank
with its principal office in Missouri may repledge with a federal reserve bank
any warehouse receipts of which it is the pledgee.
(A) In case of default in the terms of the
pledge agreement, the pledgee or the assignee of the pledge agreement may not
negotiate, assign, transfer, or sell any warehouse receipt(s) without first
obtaining the permission of the supervisor of alcohol and tobacco control to do
(B) Request for permission can
be submitted by the pledgee to the supervisor of alcohol and tobacco control in
writing and include the name of the proposed purchaser and whether or not the
proposed purchaser intends to take possession of the liquor under the
receipt(s). Under no circumstances may permission be given to the pledgee to
sell any of the warehouse receipt(s) to any person or entity which intends to
take possession of intoxicating liquor described in the receipt(s) unless the
proposed purchaser is duly licensed as a wholesaler or manufacturer by the
supervisor of alcohol and tobacco control in Missouri.
(C) The pledgee seeking the permission to
sell the warehouse receipt(s) should accompany the request by a copy of the
pledge agreement and a copy of the warehouse receipt(s) which s/he desires to
sell, together with an inventory of the liquor covered by the receipts, unless
the inventory is contained in the receipts.
(3) Under no circumstances may any person or
entity licensed by the supervisor of alcohol and tobacco control import or
cause to be imported or transport or cause to be transported into the state any
intoxicating liquor which has been sold out of the state to satisfy the payment
of any debt contracted outside of the state.
(4) No person or entity may be granted
permission to sell warehouse receipts and no licensee of the supervisor of
alcohol and tobacco control may be given permission to purchase any warehouse
receipt(s) unless the person or entity seeking permission, either to sell or to
buy, agrees as a condition precedent to the granting of any permission that
s/he shall make regular monthly reports for each calendar month by the
fifteenth of the following month in accordance with forms designated by the
supervisor of alcohol and tobacco control. Any permission given will be
promptly revoked unless the reports are made.
11 CSR 70-2.170
RSMo Supp. 1989.* This version of rule filed Feb. 8, 1973, effective Feb. 18,
Register April 15, 2019/Volume 44, Number 8, effective
*Original authority: 311.660, RSMo 1939, amended