§ 25-7-207. Goods must be kept separate; fungible goods. - North Carolina Statutes

§ 25‑7‑207.  Goodsmust be kept separate; fungible goods.

(a)        Unless thewarehouse receipt provides otherwise, a warehouse shall keep separate the goodscovered by each receipt so as to permit at all times identification anddelivery of those goods. However, different lots of fungible goods may becommingled.

(b)        If different lotsof fungible goods are commingled, the goods are owned in common by the personsentitled thereto and the warehouse is severally liable to each owner for thatowner's share. If, because of overissue, a mass of fungible goods isinsufficient to meet all the receipts the warehouse has issued against it, thepersons entitled include all holders to whom overissued receipts have been dulynegotiated. (Rev.,s. 3034; 1917, c. 37, ss. 22 to 24; C.S., ss. 4062 to 4064; 1965, c. 700, s. 1;2006‑112, s. 25.)