Effective: June 29, 2011
Latest Legislation: House Bill 9 - 129th General Assembly
Termination of storage at warehouse's option [UCC 7-206]
(A) 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 1307.210 of the Revised Code.
(B) If a warehouse in good faith believes that the goods are about to deteriorate or decline in value to less than the amount of its lien within the time prescribed in division (A) of this section and section 1307.210 of the Revised Code, the warehouse may specify in the notice given under division (A) of this section 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.
(C) 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.
(D) A warehouse shall deliver the goods to any person entitled to them under sections 1307.101 to 1307.603 of the Revised Code upon due demand made at any time before sale or other disposition under this section.
(E) 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.
Structure Ohio Revised Code
Title 13 | Commercial Transactions
Chapter 1307 | Documents of Title
Section 1307.101 | Short Title - Ucc 7-101.
Section 1307.102 | Definitions and Index of Definitions - Ucc 7-102.
Section 1307.103 | Relation of Chapter 1307. of the Revised Code to Treaty or Statute - Ucc 7-103.
Section 1307.104 | Negotiable and Nonnegotiable Document of Title - Ucc 7-104.
Section 1307.105 | Reissuance in Alternative Medium - Ucc 7-105.
Section 1307.106 | Control of Electronic Document of Title - Ucc 7-106.
Section 1307.201 | Person That May Issue a Warehouse Receipt; Storage Under Bond - Ucc 7-201.
Section 1307.202 | Form of Warehouse Receipt; Effect of Omission - Ucc 7-202.
Section 1307.203 | Liability for Nonreceipt or Misdescription - Ucc 7-203.
Section 1307.204 | Duty of Care; Contractual Limitation of Warehouse's Liability - Ucc 7-204.
Section 1307.205 | Title Under Warehouse Receipt Defeated in Certain Cases - Ucc 7-205.
Section 1307.206 | Termination of Storage at Warehouse's Option - Ucc 7-206.
Section 1307.207 | Goods Must Be Kept Separate; Fungible Goods - Ucc 7-207.
Section 1307.208 | Altered Warehouse Receipts - Ucc 7-208.
Section 1307.209 | Lien of Warehouse - Ucc 7-209.
Section 1307.210 | Enforcement of Warehouse's Lien - Ucc 7-210.
Section 1307.302 | Through Bills of Lading and Similar Documents of Title - Ucc 7-302.
Section 1307.303 | Diversion; Reconsignment; Change of Instructions - Ucc 7-303.
Section 1307.304 | Tangible Bills of Lading in a Set - Ucc 7-304.
Section 1307.305 | Destination Bills - Ucc 7-305.
Section 1307.306 | Altered Bills of Lading - Ucc 7-306.
Section 1307.307 | Lien of Carrier -Ucc 7-307.
Section 1307.308 | Enforcement of Carrier's Lien -Ucc 7-308.
Section 1307.309 | Duty of Care; Contractual Limitation of Carrier's Liability -Ucc 7-309.
Section 1307.401 | Irregularities in Issue of Receipt or Bill or Conduct of Issuer -Ucc 7-401.
Section 1307.402 | Duplicate Document of Title; Overissue - Ucc 7-402.
Section 1307.403 | Obligation of Bailee to Deliver; Excuse - Ucc 7-403.
Section 1307.404 | No Liability for Good-Faith Delivery Pursuant to Document of Title - Ucc 7-404.
Section 1307.501 | Form of Negotiation and Requirements of Due Negotiation - Ucc 7-501.
Section 1307.502 | Rights Acquired by Due Negotiation - Ucc 7-502.
Section 1307.503 | Document of Title to Goods Defeated in Certain Cases - Ucc 7-503.
Section 1307.505 | Indorser Not Guarantor for Other Parties - Ucc 7-505.
Section 1307.506 | Delivery Without Indorsement: Right to Compel Indorsement - Ucc 7-506.
Section 1307.507 | Warranties on Negotiation or Delivery of Document of Title - Ucc 7-507.
Section 1307.508 | Warranties of Collecting Bank as to Documents of Title - Ucc 7-508.
Section 1307.509 | Adequate Compliance With Commercial Contract - Ucc 7-509.
Section 1307.601 | Lost, Stolen, or Destroyed Documents of Title - Ucc 7-601.
Section 1307.603 | Conflicting Claims; Interpleader - Ucc 7-603.