30-7-207. Goods must be kept separate -- fungible goods. (1) Unless the warehouse receipt otherwise provides, 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.
(2) If different lots of fungible goods are commingled, the goods owned in common by the persons entitled thereto 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 the warehouse has issued against it, the persons entitled include all holders to which overissued receipts have been duly negotiated.
History: En. Sec. 7-207, Ch. 264, L. 1963; R.C.M. 1947, 87A-7-207; amd. Sec. 46, Ch. 575, L. 2005.
Structure Montana Code Annotated
Part 2. Warehouse Receipts -- Special Provisions
30-7-201. Person that may issue a warehouse receipt -- storage under government bond
30-7-202. Form of warehouse receipt
30-7-203. Liability for nonreceipt or misdescription
30-7-204. Duty of care -- contractual limitation of warehouse's liability
30-7-205. Title under warehouse receipt defeated in certain cases
30-7-206. Termination of storage at warehouse's option
30-7-207. Goods must be kept separate -- fungible goods