Michigan Administrative Code
Department - Licensing and Regulatory Affairs
Liquor Control Commission
Spirits
Section R. 436.1817 - Warehouse receipts
Current through Vol. 24-04, March 15, 2024
Rule 17. A person shall not sell, offer for sale or in any manner assign or transfer in this state warehouse receipts for spirits, wherever the spirits are located, except as follows:
(a) An isolated transaction in which a warehouse receipt for spirits is sold, offered for sale or delivered by a bona fide owner or pledgee thereof, such sale or offer for sale or delivery not being made in the course of repeated or successive transactions of a like character by the owner or pledgee, and the owner or pledgee not being a dealer or issuer or salesman of such warehouse receipts.
(b) A sale of warehouse receipts for spirits by a manufacturer.
(c) A sale made to a bank, trust company, insurance company, or broker or dealer in warehouse receipts for spirits.