554.7209 Lien of warehouse. 1. A warehouse has a lien against the bailor on the goods covered by a warehouse receipt or storage agreement or on the proceeds thereof in its possession for charges for storage ortransportation, including demurrage and terminal charges, insurance, labor, or other charges,present or future, in relation to the goods, and for expenses necessary for preservation of thegoods or reasonably incurred in their sale pursuant to law. If the person on whose account thegoods are held is liable for similar charges or expenses in relation to other goods wheneverdeposited and it is stated in the warehouse receipt or storage agreement that a lien is claimedfor charges and expenses in relation to other goods, the warehouse also has a lien againstthe goods covered in the warehouse receipt or storage agreement or on the proceeds thereofin its possession for those charges and expenses, whether or not the other goods have beendelivered by the warehouse. However, as against a person to which a negotiable warehousereceipt is duly negotiated, a warehouse’s lien is limited to charges in an amount or at a ratespecified in the warehouse receipt or, if no charges are so ainst a person to which a negotiable warehousereceipt is duly negotiated, a warehouse’s lien is limited to charges in an amount or at a ratespecified in the warehouse receipt or, if no charges are so specified, to a reasonable chargefor storage of the specific goods covered by the receipt subsequent to the date of the receipt. 2. A warehouse may also reserve a security interest against the bailor for the maximum amount specified on the receipt for charges other than those specified in subsection 1, suchas for money advanced and interest. The security interest is governed by Article 9. 3. A warehouse’s lien for charges and expenses under subsection 1 or a security interest under subsection 2 is also effective against any person that so entrusted the bailor withpossession of the goods that a pledge of them by the bailor to a good-faith purchaser forvalue would have been valid. However, the lien or security interest is not effective against aperson that before issuance of a document of title had a legal interest or perfected securityinterest in the goods and that did not: a. deliver or entrust the goods or any document of title covering the goods to the bailor or the bailor’s nominee tle had a legal interest or perfected securityinterest in the goods and that did not: a. deliver or entrust the goods or any document of title covering the goods to the bailor or the bailor’s nominee with: (1) actual or apparent authority to ship, store, or sell;(2) power to obtain delivery under section 554.7403; or(3) power of disposition under section 554.2403, 554.9320, 554.9321, subsection 3, section 554.13304, subsection 2, or section 554.13305, subsection 2, or other statute or rule of law; or b. acquiesce in the procurement by the bailor or its nominee of any document.4. A warehouse’s lien on household goods for charges and expenses in relation to the goods under subsection 1 is also effective against all persons if the depositor was the legalpossessor of the goods at the time of deposit. In this subsection, 'household goods' meansfurniture, furnishings, or personal effects used by the depositor in a dwelling. 5. A warehouse loses its lien on any goods that it voluntarily delivers or unjustifiably refuses to deliver. [R60, §1898, 1899; C73, §2177, 2178; C97, §3130; S13, §3138-a27, -a28, -a29, -a30, -a31, -a32; C24, 27, 31, §9687 – 9692, 9741, 10326; C35, §9687 – 9692, delivers or unjustifiably refuses to deliver. [R60, §1898, 1899; C73, §2177, 2178; C97, §3130; S13, §3138-a27, -a28, -a29, -a30, -a31, -a32; C24, 27, 31, §9687 – 9692, 9741, 10326; C35, §9687 – 9692, 9751-g24, 10326; C39, §9687– 9692, 9751.24, 10326; C46, 50, 54, 58, 62, §542.27 – 542.32, 543.24, 543.25, 575.2; C66, 71,73, 75, 77, 79, 81, §554.7209] 2007 Acts, ch 30, §15, 45, 46 Sat Dec 23 01:57:51 2023 Iowa Code 2024, Section 554.7209 (24, 0)
Iowa Legal Code