2009 Iowa Code
Title 13 - Commerce
Subtitle 5 - Regulation of Commercial Enterprises
CHAPTER 554 - UNIFORM COMMERCIAL CODE
554.7206 - TERMINATION OF STORAGE AT WAREHOUSE'S OPTION.

        554.7206  TERMINATION OF STORAGE AT WAREHOUSE'S
      OPTION.
         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 554.7210.

         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 554.7210, 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 Article 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.  

         Section History: Early Form

         [S13, § 3138-a34; C24, 27, 31, § 9694; C35, § 9694, 9751-g21; C39,
      § 9694, 9751.21; C46, 50, 54, 58, 62, § 542.34, 543.23; C66, 71,
      73, 75, 77, 79, 81, § 554.7206] 

         Section History: Recent Form

         2007 Acts, ch 30, §12, 45, 46