C.R.S. Section 35-36-206
Bailment of commodities


(1)

Acceptance of commodities for storage by a warehouse operator constitutes a bailment and not a sale. Stored commodities are not subject to seizure upon process of a court in an action against the bailee, except upon action by owners of the stored commodities or the commissioner to enforce the terms of the bailment; but, in the event of the failure or insolvency of a bailee, commodities shall be first applied exclusively to the settlement on an equal basis of all outstanding negotiable warehouse receipts and other open storage obligations for commodities so stored with the bailee.

(2)

Forwarded commodities shall be used only to meet the storage obligation to the forwarding warehouse operator.

(3)

The purchase of a commodity does not constitute a bailment.

Source: Section 35-36-206 — Bailment of commodities, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-35.­pdf (accessed Oct. 20, 2023).

35‑36‑101
Short title
35‑36‑102
Definitions
35‑36‑103
Commissioner - rules - delegation of powers and duties
35‑36‑104
Cease-and-desist order - restraining order
35‑36‑105
Civil penalties
35‑36‑106
Penalties
35‑36‑107
Appeal
35‑36‑109
Repeal of article
35‑36‑201
Licenses - commodity handler - rules
35‑36‑202
Exemptions
35‑36‑203
Commodity handler licenses - application requirements - fee
35‑36‑204
Licenses - requirements - rules
35‑36‑205
Disciplinary powers - licenses
35‑36‑206
Bailment of commodities
35‑36‑207
Credit sale contracts - rules
35‑36‑208
Commodity grades established - rules
35‑36‑209
Negotiable warehouse receipts - rules
35‑36‑210
Use of scale tickets and negotiable warehouse receipts
35‑36‑211
Commodity handler records - separate and distinct - time of maintenance - definition
35‑36‑212
Warehouse operator’s liability for disposal of tainted commodities
35‑36‑213
Enforcement - inspection of commodity handlers’ property - confidentiality
35‑36‑214
Procedure on shortage - refusal to submit to inspection
35‑36‑215
Inspection fees
35‑36‑216
Bonds or irrevocable letters of credit - exemptions
35‑36‑217
Unlawful acts - definition
35‑36‑301
Legislative declaration
35‑36‑302
Application for license - rules
35‑36‑303
License fee - renewal - rules
35‑36‑304
Bonds and irrevocable letters of credit - exemptions
35‑36‑305
Investigations, hearings, and examinations
35‑36‑306
Disciplinary powers - licenses
35‑36‑307
Credit sale contracts - rules
35‑36‑308
Records of dealers
35‑36‑309
Records of small-volume dealers
35‑36‑310
Daily reports and settlements
35‑36‑311
Pooled consignment
35‑36‑312
Enforcement
35‑36‑313
Unlawful acts - definition
35‑36‑314
Penalties for theft of farm products
Green check means up to date. Up to date

Current through Fall 2024

§ 35-36-206’s source at colorado​.gov