Section 26-3-7-19 - Receipt of grain; ownership of deposited grain(a) A licensee shall issue a receipt or ticket for grain received. Grain received by a licensee shall be credited to the depositor on the books of the licensee within seven (7) days from the date of its delivery. If a ticket is issued on delivery of the grain for storage, a receipt shall be issued on demand, but no receipt shall be issued on grain bank grain.(b) The licensee is a bailee with respect to all stored grain. The person whose name appears on a receipt or a ticket has title to the stored grain evidenced by the receipt or ticket.(Formerly: Acts1973 , P.L. 268, SEC.1.) As amended by Acts1979 , P.L. 249, SEC.14; Acts1982 , P.L. 155, SEC.13; P.L. 125-1997, SEC.41.