§ 554.7206

554.7206 Termination of storage at warehouse’s option. 1. 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 chargesand removal of the goods from the warehouse at the termination of the period of storage fixedby the document of title or, if a period is not fixed, within a stated period not less than thirtydays after the warehouse gives notice. If the goods are not removed before the date specifiedin the notice, the warehouse may sell them pursuant to section 554.7210. 2. 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 1 and section554.7210, the warehouse may specify in the notice given under subsection 1 any reasonableshorter time for 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 or posting. 3. 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

k after a single advertisement or posting. 3. 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 warehousefacilities, or other persons, the warehouse may sell the goods at public or private sale withoutadvertisement or posting on reasonable notification to all persons known to claim an interestin the goods. If the warehouse, after a reasonable effort, is unable to sell the goods, it maydispose of them in any lawful manner and does not incur liability by reason of that disposition. 4. A warehouse shall deliver the goods to any person entitled to them under this Article upon due demand made at any time before sale or other disposition under this section. 5. 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 thewarehouse would have been bound to deliver the goods. [S13, §3138-a34; C24, 27, 31, §9694; C35, §9694, 9751-g21; C39, §9694, 9751.21; C46, 50, 54, 58, 62, §542.34, 543.23; C66, 71, 73, 75, 77, 79, 81, §554.7206] 2007 Acts, ch 30, §12, 45, 46

the goods. [S13, §3138-a34; C24, 27, 31, §9694; C35, §9694, 9751-g21; C39, §9694, 9751.21; C46, 50, 54, 58, 62, §542.34, 543.23; C66, 71, 73, 75, 77, 79, 81, §554.7206] 2007 Acts, ch 30, §12, 45, 46 Sat Dec 23 01:57:49 2023 Iowa Code 2024, Section 554.7206 (24, 0)