§ 25-7-206. Termination of storage at warehouse's option.

§ 25‑7‑206. Termination of storage at warehouse's option.

(a)        A warehouse, bygiving notice to the person on whose account the goods are held and any otherperson known to claim an interest in the goods, may require payment of anycharges and removal of the goods from the warehouse at the termination of theperiod of storage fixed by the document of title or, if a period is not fixed,within a stated period not less than 30 days after the warehouse gives notice.If the goods are not removed before the date specified in the notice, thewarehouse may sell them pursuant to G.S. 25‑7‑210.

(b)        If a warehouse ingood faith believes that goods are about to deteriorate or decline in value toless than the amount of its lien within the time provided in subsection (a) ofthis section and G.S. 25‑7‑210, the warehouse may specify in thenotice given under subsection (a) of this section any reasonable shorter timefor removal of the goods and, if the goods are not removed, may sell them atpublic sale held not less than one week after a single advertisement orposting.

(c)        If, as a result ofa quality or condition of the goods of which the warehouse did not have noticeat the time of deposit, the goods are a hazard to other property, the warehousefacilities, or other persons, the warehouse may sell the goods at public orprivate sale without advertisement or posting on reasonable notification to allpersons known to claim an interest in the goods. If the warehouse, after areasonable effort, is unable to sell the goods, it may dispose of them in anylawful manner and does not incur liability by reason of that disposition.

(d)        A warehouse shalldeliver the goods to any person entitled to them under this Article upon duedemand made at any time before sale or other disposition under this section.

(e)        A warehouse maysatisfy its lien from the proceeds of any sale or disposition under thissection but shall hold the balance for delivery on the demand of any person towhom the warehouse would have been bound to deliver the goods. (Rev., ss. 3036 to 3040;1917, c. 37, ss. 33, 34; C.S., ss. 4073, 4074; 1965, c. 700, s. 1; 2006‑112,s. 25.)