North Dakota § 41-07-12 (7-206) Termination of storage at warehouse's option

North Dakota Statutes

§ 41-07-12 — (7-206) Termination of storage at warehouse's option

North Dakota § 41-07-12

Title 41Uniform Commercial Code

Ch. 41-07Documents of Title

This text of North Dakota § 41-07-12 ((7-206) Termination of storage at warehouse's option) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 41-07-12 (2026).

Text

1.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 days after the warehouse gives notice. If the goods are not removed before the date specified in the notice, the warehouse may sell them pursuant to section 41-07-16.

2.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 1 and section 41-07-16, the warehouse may specify in the notice given under subsection 1

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1. 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 days after the warehouse gives notice. If the goods are not
removed before the date specified in the notice, the warehouse may sell them
pursuant to section 41-07-16.
2. 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 1 and
section 41-07-16, the warehouse may specify in the notice given under subsection 1
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 week after a single
advertisement or posting.
3. 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, it may dispose of them in any lawful manner and does not
incur liability by reason of that disposition.
4. 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.
5. 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.