400.7-206. Termination of storage at warehouseman's option. - Missouri Statutes

Termination of storage at warehouseman's option.

400.7-206. (1) A warehouseman may on notifying the personon whose account the goods are held and any other person known toclaim an interest in the goods require payment of any charges andremoval of the goods from the warehouse at the termination of theperiod of storage fixed by the document, or, if no period isfixed, within a stated period not less than thirty days after thenotification. If the goods are not removed before the datespecified in the notification, the warehouseman may sell them inaccordance with the provisions of the section on enforcement of awarehouseman's lien (section 400.7-210).

(2) If a warehouseman in good faith believes that the goodsare about to deteriorate or decline in value to less than theamount of his lien within the time prescribed in subsection (1)for notification, advertisement and sale, the warehouseman mayspecify in the notification any reasonable shorter time forremoval of the goods and in case the goods are not removed, maysell them at public sale held not less than one week after asingle advertisement or posting.

(3) If as a result of a quality or condition of the goods ofwhich the warehouseman had no notice at the time of deposit thegoods are a hazard to other property or to the warehouse or topersons, the warehouseman may sell the goods at public or privatesale without advertisement on reasonable notification to allpersons known to claim an interest in the goods. If thewarehouseman after a reasonable effort is unable to sell thegoods he may dispose of them in any lawful manner and shall incurno liability by reason of such disposition.

(4) The warehouseman must deliver the goods to any personentitled to them under this article upon due demand made at anytime prior to sale or other disposition under this section.

(5) The warehouseman may satisfy his lien from the proceedsof any sale or disposition under this section but must hold thebalance for delivery on the demand of any person to whom he wouldhave been bound to deliver the goods.

(L. 1963 p. 503 § 7-206)