Bill > HB549

This bill allows Montana distilleries to issue and sell warehouse receipts for liquor stored at their licensed premises, creating a new financial instrument for the alcoholic beverage industry. Specifically, the bill permits distilleries to sell warehouse receipts to any person for liquor stored in federally bonded areas, with the important clarification that these receipts do not constitute an ownership interest in the distillery itself. The legislation enables the resale of these warehouse receipts and allows intermediary businesses to market, manage, and facilitate their sale and investment. Importantly, the bill stipulates that the liquor must remain within the distillery's licensed premises until it is transferred in bond or disposed of according to state or federal law. The bill also adds a provision to the state's licensing regulations clarifying that ownership of warehouse receipts does not restrict the receipt holder from any legally permissible activities and limits the department's ability to require information about warehouse receipt transactions. This legislation effectively creates a new financial instrument for distilleries, potentially providing them with additional revenue streams and investment opportunities while maintaining strict regulatory oversight of the liquor itself.

Business and Industry

https://bills.legmt.gov/#/laws/bill/2/LC0732