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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 2. AGRICULTURE

  § 2-9-21. Definitions.  

Latest version.

  • As used in the Public Warehouse and Commodity Indemnity Act:

    1.  “Charter” means a franchise issued to a person for the operation of a public warehouse;

    2.  “Commodities” means nonperishable grains or seeds;

    3.  “Depositor” means any person storing commodities with a state-chartered or federally licensed warehouse;

    4.  “Electronic document” means a document that is generated, sent, received, or stored by electronic data interchange, electronic mail, telegram, telex, or telecopy;

    5.  “Electronic receipt” means a receipt that is authorized by the State Board of Agriculture to be issued under this act in the form of an electronic document;

    6.  “Full market value” means the value required by law to be used by insurance underwriters in paying for losses of commodities insured for their actual cash value;

    7.  “Indemnity” means the Oklahoma Commodity Storage Indemnity Fund;

    8.  “Loss” means any monetary reduction in value to a producer of an extraordinary nature and which shall include, but not be limited to, bankruptcy, embezzlement, theft or fraud;

    9.  “Producer” means any person planting, raising, growing, or harvesting commodities;

    10.  “Public warehouse” means any place where commodities are received for storage, received for transfer to other public warehouses, or both;

    11.  “Storage” or “warehousing” means any method of holding commodities by a party other than the direct owner except for transportation;

    12.  “Warehouseman” means any person operating a public warehouse; and

    13.  “Warehouse receipt” means every receipt issued by a warehouseman for commodities pursuant to the Public Warehouse and Commodity Indemnity Act.

Added by Laws 1955, p. 79, art. 9(B), § 1.  Amended by Laws 1977, c. 106, § 1, emerg. eff. May 27, 1977; Laws 1987, c. 125, § 2, emerg. eff. June 2, 1987; Laws 1988, c. 149, § 1, emerg. eff. May 2, 1988; Laws 1990, c. 155, § 1, emerg. eff. May 1, 1990; Laws 1997, c. 10, § 1, eff. July 1, 1997; Laws 2000, c. 243, § 84, emerg. eff. May 24, 2000; Laws 2001, c. 119, § 1, eff. Nov. 1, 2001.