Sale by Nonlicensee: Holder of Warehouse Receipts

Upon receiving permission from the Board, a bank, trust company or other financial institution owning or possessing warehouse receipts for alcoholic beverages which warehouse receipts were acquired by such CH. 3 ALCOHOLIC BEVERAGE CONTROL bank, trust company or other financial institution as security for a loan, may sell such warehouse receipts to a licensee authorized to sell such alcoholic beverages or such warehouse receipts.