New York § 7-206 Termination of Storage at Warehouse's Option

New York Statutes

§ 7-206 — Termination of Storage at Warehouse's Option

New York § 7-206

Law UCCUniform Commercial Code

Part 2Warehouse Receipts: Special Provisions

Art. 7Documents of Title

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Bluebook

N.Y. Uniform Commercial Code § 7-206 (2026).

Text

Section 7--206. Termination of Storage at Warehouse's Option.\n  (a) A warehouse, by giving notice to the person on whose account the\ngoods are held and any other person known to claim an interest in the\ngoods, may require payment of any charges and removal of the goods from\nthe warehouse at the termination of the period of storage fixed by the\ndocument of title or, if a period is not fixed, within a stated period\nnot less than 30 days after the warehouse gives notice. If the goods are\nnot removed before the date specified in the notice, the warehouse may\nsell them pursuant to Section 7--210.\n  (b) If a warehouse in good faith believes that goods are about to\ndeteriorate or decline in value to less than the amount of its lien\nwithin the time provided in subsection (a) and Section

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Section 7--206. Termination of Storage at Warehouse's Option.\n (a) A warehouse, by giving notice to the person on whose account the\ngoods are held and any other person known to claim an interest in the\ngoods, may require payment of any charges and removal of the goods from\nthe warehouse at the termination of the period of storage fixed by the\ndocument of title or, if a period is not fixed, within a stated period\nnot less than 30 days after the warehouse gives notice. If the goods are\nnot removed before the date specified in the notice, the warehouse may\nsell them pursuant to Section 7--210.\n (b) If a warehouse in good faith believes that goods are about to\ndeteriorate or decline in value to less than the amount of its lien\nwithin the time provided in subsection (a) and Section 7--210, the\nwarehouse may specify in the notice given under subsection (a) any\nreasonable shorter time for removal of the goods and, if the goods are\nnot removed, may sell them at public sale held not less than one week\nafter a single advertisement or posting.\n (c) If, as a result of a quality or condition of the goods of which\nthe warehouse did not have notice at the time of deposit, the goods are\na hazard to other property, the warehouse facilities, or other persons,\nthe warehouse may sell the goods at public or private sale without\nadvertisement or posting on reasonable notification to all persons known\nto claim an interest in the goods. If the warehouse, after a reasonable\neffort, is unable to sell the goods, it may dispose of them in any\nlawful manner and does not incur liability by reason of that\ndisposition.\n (d) A warehouse shall deliver the goods to any person entitled to them\nunder this article upon due demand made at any time before sale or other\ndisposition under this section.\n (e) A warehouse may satisfy its lien from the proceeds of any sale or\ndisposition under this section but shall hold the balance for delivery\non the demand of any person to which the warehouse would have been bound\nto deliver the goods.\n