§ 11–803
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 11-803 (2026)
Title 11. Trade Regulation
Subtitle 8. Consignees
§ 11–803LinkCopy Citation
(a)
Except as provided by subsection (b) of this section, a consignee entrusted with and in possession of a possessory document is considered the true owner of the goods described in the document for the purpose of any contract with a third person for:
(1)
The sale or disposal of the goods; or
(2)
The pledge or deposit of them as security for any money or negotiable instrument advanced or given on the faith of the possessory document.
(b)
A contract, pledge, or deposit described in subsection (a) of this section is not valid if the third person has notice that the consignee is not the true owner of the goods.