- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 7. Warehouse Receipts, Bills of Lading, and Other Documents of Title
- Section 206. Termination of Storage at Warehouseman's Option.
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. Title Under Warehouse Receipt Defeated in Certain Cases.
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. Goods Must Be Kept Separate; Fungible Goods.
AS 45.07.206. Termination of Storage at Warehouseman's Option.
- (a) A warehouseman may, on notifying the person on whose account the goods are held and any other person known to claim an
interest in the goods, require payment of 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 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 (AS 45.07.210
- (b) If a warehouseman in good faith believes that the goods are about to deteriorate or decline in value to less than the
amount of the lien within the time prescribed in (a) of this section for notification, advertisement, and sale, the
warehouseman may specify in the notification a 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 week after a single advertisement or posting.
- (c) 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, the warehouseman may dispose of
them in a lawful manner; the warehouseman incurs no liability by reason of this disposition.
- (d) The warehouseman must deliver the goods to a person entitled to them under this chapter upon due demand made at any
time before sale or other disposition under this section.
- (e) The warehouseman may satisfy the lien from the proceeds of a sale or disposition under this section, but must hold the
balance for delivery on the demand of a person to whom the warehouseman would have been bound to deliver the goods.
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