Sec. 251.007.  FAILURE TO DISCLOSE LACK OF OWNERSHIP OF GOODS.  (a)  A person who obtains a negotiable warehouse receipt describing goods the person does not own may not, with intent to defraud, negotiate the receipt for value without disclosing the person's lack of ownership.
(b)  A person who violates this section commits an offense.  An offense under this section is a misdemeanor punishable by:
(1)  confinement in the county jail for a term of not more than one year;
(2)  a fine not to exceed $1,000; or
(3)  both the fine and confinement.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.