554.7207 Goods must be kept separate — fungible goods. 1. Unless the warehouse receipt provides otherwise, a warehouse shall keep separate the goods covered by each receipt so as to permit at all times identification and delivery of thosegoods. However, different lots of fungible goods may be commingled. 2. If different lots of fungible goods are commingled, the goods are owned in common by the persons entitled thereto and the warehouse is severally liable to each owner for thatowner’s share. If, because of overissue, a mass of fungible goods is insufficient to meet allthe receipts the warehouse has issued against it, the persons entitled include all holders towhich overissued receipts have been duly negotiated. [S13, §3138-a22, -a23, -a24; C24, 27, 31, 35, 39, §9682 – 9684; C46, 50, 54, 58, 62, §542.22 – 542.24; C66, 71, 73, 75, 77, 79, 81, §554.7207] 2007 Acts, ch 30, §13, 45, 46 Sat Dec 23 01:57:50 2023 Iowa Code 2024, Section 554.7207 (24, 0)
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