§ 34.1-7-207 — Goods must be kept separate; fungible goods

(a) Unless the warehouse receipt provides otherwise, a
warehouse shall keep separate the goods covered by each receipt
so as to permit at all times identification and delivery of
those goods. However, different lots of fungible goods may be
commingled.
(b) If different lots of fungible goods are commingled,
the goods are owned in common by the persons entitled thereto
and the warehouse is severally liable to each owner for that
owner's share. If, because of overissue, a mass of fungible
goods is insufficient to meet all the receipts the warehouse has
issued against it, the persons entitled include all holders to
which overissued receipts have been duly negotiated.