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2018 Alaska Statutes
Title 45. Trade and Commerce
Chapter 07. Warehouse Receipts, Bills of Lading, and Other Documents of Title
Article 2. Warehouse Receipts: Special Provisions.
Sec. 45.07.207. Goods must be kept separate; fungible goods.
Universal Citation: AK Stat § 45.07.207 (2018)
(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 to them, 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 that the warehouse has issued against it, the persons entitled include all holders to whom overissued receipts have been duly negotiated.
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