[Code of Federal Regulations]
[Title 7, Volume 7]
[Revised as of January 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR738.18]

[Page 293]
 
                          TITLE 7--AGRICULTURE
 
                            CHAPTER VII--FARM
                SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
 
PART 738--WOOL WAREHOUSES--Table of Contents
 
Sec. 738.18  Lost or destroyed receipts; bond.

    (a) In the case of a lost or destroyed receipt, if there be no 
statute of the United States or a law of a State applicable thereto, a 
new receipt upon the same terms, subject to the same conditions, and 
bearing on its face the number and the date of the receipt in lieu of 
which it is issued and a plain and conspicuous statement that it is a 
duplicate issued in lieu of a lost or destroyed receipt, may be issued 
upon compliance with the conditions set out in paragraph (b) of this 
section.
    (b) Before issuing such new or duplicate receipt the warehouseman 
shall require the depositor or other person applying therefor to make 
and file with the warehouseman:
    (1) An affidavit showing that he is lawfully entitled to the 
possession of the orginal receipt, that he has not negotiated or 
assigned it, how the original receipt was lost or destroyed, and if 
lost, that diligent effort has been made to find the receipt without 
success, and (2) a bond in an amount double the value at the time the 
bond is given of the wool represented by the lost or destroyed receipt. 
Such bond shall be in a form approved for the purpose by the Secretary 
or his designated representative, shall be conditioned to indemnify the 
warehouseman against any loss sustained by reason of the issuance of 
such duplicate receipt, and shall have as surety thereon preferably a 
surety company which is authorized to do business, and is subject to 
service of process in a suit on the bond, in the State in which the 
warehouse is located, or at least two individuals who are residents of 
such State and each of whom owns real property therein having a value, 
in excess of all exemptions and encumbrances, equal to the amount of the 
bond.

(Approved by the Office of Management and Budget under control number 
0560-0120)

[5 FR 3607, Sept. 10, 1940; 7 FR 6806, Aug. 29, 1942; 13 FR 8731, Dec. 
30, 1948; 19 FR 57, Jan. 6, 1954, as amended at 47 FR 745, Jan. 7, 1982. 
Redesignated at 50 FR 1814, Jan. 14, 1985]

    Cross Reference: For surety companies authorized to do business with 
the United States, see 31 CFR part 223.