There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Article 7 Warehouse Receipts, Bills of Lading,
355.7.206 Termination of storage at warehouseman's option.
Download pdfany charges and removal of the goods from the warehouse at the termination of the
period of storage fixed by the document, or, if no period is fixed, within a stated
period not less than thirty (30) days after the notification. If the goods are not
removed before the date specified in the notification, the warehouseman may sell
them in accordance with the provisions of the section on enforcement of a
warehouseman's lien (KRS 355.7-210). (2) If a warehouseman in good faith believes that the goods are about to deteriorate or decline in value to less than the amount of his lien within the time prescribed in
subsection (1) for notification, advertisement and sale, the warehouseman may
specify in the notification any reasonable shorter time for removal of the goods and
in case the goods are not removed, may sell them at public sale held not less than
one (1) week after a single advertisement or posting. (3) If as a result of a quality or condition of the goods of which the warehouseman had no notice at the time of deposit the goods are a hazard to other property or to the
warehouse or to persons, the warehouseman may sell the goods at public or private
sale without advertisement on reasonable notification to all persons known to claim
an interest in the goods. If the warehouseman after a reasonable effort is unable to
sell the goods he may dispose of them in any lawful manner and shall incur no
liability by reason of such disposition. (4) The warehouseman must deliver the goods to any person entitled to them under this article upon due demand made at any time prior to sale or other disposition under
this section. (5) The warehouseman may satisfy his lien from the proceeds of any sale or disposition under this section but must hold the balance for delivery on the demand of any
person to whom he would have been bound to deliver the goods. Effective: July 1, 1960
History: Created 1958 Ky. Acts ch. 77, sec. 7-206, effective July 1, 1960.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.