Warehouse Act of 1916
E859692
The Warehouse Act of 1916 was a U.S. federal law that established a system of federal licensing and regulation for warehouses storing agricultural products, enabling farmers to use warehouse receipts as collateral for loans.
Statements (44)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
agricultural law ⓘ |
| administeredBy |
Secretary of Agriculture
NERFINISHED
ⓘ
United States Department of Agriculture ⓘ |
| aimedAt |
reducing credit constraints for farmers
ⓘ
stabilizing agricultural markets ⓘ |
| appliesTo | warehouses storing agricultural products ⓘ |
| beneficiary |
farmers
ⓘ
warehouse operators ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| dateEnacted | 1916-08-11 ⓘ |
| enables |
improved access to credit for farmers
ⓘ
use of warehouse receipts as collateral for credit ⓘ |
| enactedInTheYear | 1916 ⓘ |
| hasAmendment | later amendments to expand covered commodities and modernize administration ⓘ |
| hasEffect |
increased security for lenders accepting warehouse receipts
ⓘ
standardization of warehouse practices for agricultural commodities ⓘ |
| historicalContext | Progressive Era agricultural and financial reforms ⓘ |
| inForce | true ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
federal government of the United States
|
| legalConceptUsed | negotiable warehouse receipt ⓘ |
| legalForm | public law ⓘ |
| legislativeBody | United States Congress ⓘ |
| partOf | United States agricultural credit and marketing framework ⓘ |
| policyArea |
agricultural policy
ⓘ
commodity storage ⓘ rural credit ⓘ |
| providesFor |
bonding requirements for warehouse operators
ⓘ
federal licensing of warehouses ⓘ inspection of warehouses ⓘ issuance of negotiable warehouse receipts ⓘ |
| purpose |
to establish a system of federal licensing and regulation for warehouses storing agricultural products
ⓘ
to facilitate the use of warehouse receipts as collateral for loans ⓘ |
| regulates |
federally licensed warehouses
ⓘ
storage of agricultural commodities ⓘ |
| relatedTo |
Federal Farm Loan Act of 1916
NERFINISHED
ⓘ
United States agricultural credit system NERFINISHED ⓘ |
| requires |
warehouses to issue receipts that accurately describe stored commodities
ⓘ
warehouses to meet federal standards to obtain a license ⓘ |
| sectorAffected |
agriculture
ⓘ
banking and credit ⓘ |
| signedBy | Woodrow Wilson NERFINISHED ⓘ |
| typeOfRegulation |
licensing regulation
ⓘ
quality control regulation ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.