(1) When the application has been received by the commissioner, and the applicant has certified the grade of the grain and agreed to maintain and deliver the certified grade, as required by Section 75-43-7, the commissioner shall immediately issue the applicant a warehouse receipt or receipts which shall be under his signature. The receipt shall conform to the requirements of Section 75-7-202, and in addition shall embody within its written or printed terms the legal description of the land, the location of the warehouse or warehouses, and the quantity and grade of the grain stored in the warehouse.
(2) At the time the warehouse receipt or receipts are issued, the farm warehouseman shall place upon the warehouse or warehouses in a conspicuous place, a notice that the grain in his warehouse is under warehouse receipt, which notice shall contain a statement of the quantity and grade of the grain, the bins or containers which contain the grain covered by the receipt, and the date of the expiration of the warehouse license.
(3) A farm warehouseman shall not insert any language in any warehouse receipt or make any contract with respect to any warehouse receipt which purports to limit the liabilities or responsibilities imposed on him by law.
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