Amends the United States Warehouse Act to permit all (Federal or State licensed) cotton warehouses to record specified cotton receipt information required by such Act in a central filing system or systems.
Deems such recording as establishing ownership under Federal or State law. Limits to Federal warehouses the Secretary of Agriculture's authority to make only liens recorded on the central filing system enforceable against registered owners or purchasers. Requires all (Federal or State licensed) warehouses with a central filing system to deliver stored cotton to the registered owner upon request.
States that: (1) a holder of an electronic cotton warehouse receipt shall be treated as being in possession of the warehouse receipt under Federal or State law; and (2) such provision shall apply to electronic receipts from all (Federal or State licensed) warehouses.
Became Public Law No: 102-553.
Message on Senate action sent to the House.
Introduced in House
Introduced in House
Referred to the House Committee on Agriculture.
Ordered to be Reported (Amended).
Committee Consideration and Mark-up Session Held.
Reported (Amended) by the Committee on Agriculture. H. Rept. 102-832.
Reported (Amended) by the Committee on Agriculture. H. Rept. 102-832.
Placed on the Union Calendar, Calendar No. 477.
Mr. de la Garza moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules.
DEBATE - The House proceeded with forty minutes of debate.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
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On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and read twice and referred to the Committee on Agriculture.
Referred to Subcommittee on Agricultural Research, Gen. Leg.