Md. Code, Commercial Law § 11-803
Md. Code, Commercial Law § 11-803
in effect(a) Except as provided by subsection (b) of this section, a consignee entrusted with and in possession of a possessory document is considered the true owner of the goods described in the document for the purpose of any contract with a third person for:
(1) The sale or disposal of the goods; or
(2) The pledge or deposit of them as security for any money or negotiable instrument advanced or given on the faith of the possessory document.
(b) A contract, pledge, or deposit described in subsection (a) of this section is not valid if the third person has notice that the consignee is not the true owner of the goods.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl§ion=11-803&enactments=falseFetched: 10/16/2026