57A-7-206. Termination of storage at warehouse's option.
(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 §57A-7-210.
(b) 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 (a) and §57A-7-210, the warehouse may specify in the notice given under subsection (a) 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 this chapter 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.
Source: SL 2009, ch 254, §7-206.
Structure South Dakota Codified Laws
Title 57A - Uniform Commercial Code
Chapter 07 - Documents Of Title
Section 57A-7-101 - Short title.
Section 57A-7-102 - Definitions and index of definitions.
Section 57A-7-103 - Relation of chapter to treaty or statute.
Section 57A-7-104 - Negotiable and nonnegotiable document of title.
Section 57A-7-105 - Reissuance in alternative medium.
Section 57A-7-106 - Control of electronic document of title.
Section 57A-7-201 - Person that may issue a warehouse receipt--Storage under bond.
Section 57A-7-202 - Form of warehouse receipt--Effect of omission.
Section 57A-7-203 - Liability for nonreceipt or misdescription.
Section 57A-7-204 - Duty of care--Contractual limitation of warehouse's liability.
Section 57A-7-205 - Title under warehouse receipt defeated in certain cases.
Section 57A-7-206 - Termination of storage at warehouse's option.
Section 57A-7-207 - Goods to be kept separate--Fungible goods.
Section 57A-7-208 - Altered warehouse receipts.
Section 57A-7-209 - Lien of warehouse.
Section 57A-7-210 - Enforcement of warehouse's lien.
Section 57A-7-302 - Through bills of lading and similar documents of title.
Section 57A-7-303 - Diversion--Reconsignment--Change of instructions.
Section 57A-7-304 - Tangible bills of lading in a set.
Section 57A-7-305 - Destination bills.
Section 57A-7-306 - Altered bills of lading.
Section 57A-7-307 - Lien of carrier.
Section 57A-7-308 - Enforcement of carrier's lien.
Section 57A-7-309 - Duty of care--Contractual limitation of carrier's liability.
Section 57A-7-401 - Irregularities in issue of receipt or bill or conduct of issuer.
Section 57A-7-402 - Duplicate document of title--Overissue.
Section 57A-7-403 - Obligation of bailee to deliver--Excuse.
Section 57A-7-404 - No liability for good-faith delivery pursuant to document of title.
Section 57A-7-501 - Form of negotiation and requirements of due negotiation.
Section 57A-7-502 - Rights acquired by due negotiation.
Section 57A-7-503 - Document of title to goods defeated in certain cases.
Section 57A-7-505 - Indorser not guarantor for other parties.
Section 57A-7-506 - Delivery without indorsement--Right to compel indorsement.
Section 57A-7-507 - Warranties on negotiation or delivery of document of title.
Section 57A-7-508 - Warranties of collecting bank as to documents of title.
Section 57A-7-509 - Adequate compliance with commercial contract.
Section 57A-7-601 - Lost, stolen, or destroyed documents of title.
Section 57A-7-602 - Judicial process against goods covered by negotiable document of title.
Section 57A-7-603 - Conflicting claims--Interpleader.