MT HB549

Montana distilleries may issue or sell warehouse receipts to any person for aging liquor stored on their federally bonded premises, creating an investment mechanism for barrel-aged spirits

Warehouse receipts can be resold by holders to any person, and distilleries or subsequent holders may use intermediary businesses to market, facilitate, manage, sell, and invest in these receipts

Ownership of warehouse receipts does not constitute an ownership interest in the distillery business or license, preserving separation between investors and licensees

The department cannot require applications or reports for warehouse receipt sales, and receipt holders are not restricted from other alcohol-related activities otherwise legal for them

Effective date: July 1, 2025