Indiana § 26-1-7-206 Termination of storage at warehouse's option

Indiana Statutes

§ 26-1-7-206 — Termination of storage at warehouse's option

Indiana § 26-1-7-206

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 7Documents of Title

This text of Indiana § 26-1-7-206 (Termination of storage at warehouse's option) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-7-206 (2026).

Text

(a)A warehouse, by giving notice to the person on whose account the goods are held and any other person known to claim an interest in the goods, may require payment of any charges and removal of the goods from the warehouse at the termination of the period of storage fixed by the document of title, or, if a period is not fixed, within a stated period not less than thirty (30) days after the warehouse gives notice. If the goods are not removed before the date specified in the notice, the warehouse may sell them under section 210 of this chapter on enforcement of a warehouse's lien.

(b)If a warehouse in good faith believes that goods are about to deteriorate or decline in value to less than the amount of its lien within the time provided in subsection (a) and section 210 of this chapter, t

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(a) A warehouse, by giving notice to the
person on whose account the goods are held and any other person
known to claim an interest in the goods, may require payment of any
charges and removal of the goods from the warehouse at the
termination of the period of storage fixed by the document of title, or,
if a period is not fixed, within a stated period not less than thirty (30)
days after the warehouse gives notice. If the goods are not removed
before the date specified in the notice, the warehouse may sell them
under section 210 of this chapter on enforcement of a warehouse's lien.
(b) If a warehouse in good faith believes that goods are about to
deteriorate or decline in value to less than the amount of its lien within
the time provided in subsection (a) and section 210 of this chapter, the
warehouse may specify in the notice given under subsection (a) any
reasonable shorter time for removal of the goods and, if the goods are
not removed, may sell them at public sale held not less than one (1)
week after a single advertisement or posting.
(c) If, as a result of a quality or condition of the goods of which the
warehouse did not have notice at the time of deposit, the goods are a
hazard to other property, the warehouse facilities, or other persons, the
warehouse may sell the goods at public or private sale without
advertisement or posting on reasonable notification to all persons
known to claim an interest in the goods. If the warehouse, after a
reasonable effort, is unable to sell the goods, the warehouse may
dispose of them in any lawful manner and does not incur liability by
reason of the disposition.
(d) A warehouse shall deliver the goods to any person entitled to
them under this chapter upon due demand made at any time before sale
or other disposition under this section.
(e) A warehouse may satisfy its lien from the proceeds of any sale
or disposition under this section but shall hold the balance for delivery
on the demand of any person to which the warehouse would have been
bound to deliver the goods.
Formerly: Acts 1963, c.317, s.7-206. As amended by
P.L.152-1986, SEC.249; P.L.143-2007, SEC.35.