Okla. Stat. tit. 12A, § 12A-7-206
This is the official text of Okla. Stat. tit. 12A, § 12A-7-206, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Termination of storage at warehouse's option
Official statutory text
Termination of Storage at Warehouse’s Option.
(a) 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 charges and
removal of the goods from the warehouse at the termination of the
period of storage fixed by the document of title, or, if a period is
not fixed, within a stated period not less than thirty (30) days
after the warehouse gives notice. If the goods are not removed
before the date specified in the notice, the warehouse may sell them
pursuant to Section 7-210 of this title.
(b) 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 (a) of this section and
Section 7-210 of this title, the warehouse may specify in the notice
given under subsection (a) of this section any reasonable shorter
time for removal of the goods and, if the goods are not removed, may
sell them at public sale held not less than one (1) week after a
single advertisement or posting.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 403
(c) 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 warehouse facilities, or
other persons, the warehouse may sell the goods at public or private
sale without advertisement or posting on reasonable notification to
all persons known to claim an interest in the goods. If the
warehouse, after a reasonable effort, is unable to sell the goods,
it may dispose of them in any lawful manner and does not incur
liability by reason of that disposition.
(d) 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.
(e) 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 the warehouse
would have been bound to deliver the goods.
(a) 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 charges and
removal of the goods from the warehouse at the termination of the
period of storage fixed by the document of title, or, if a period is
not fixed, within a stated period not less than thirty (30) days
after the warehouse gives notice. If the goods are not removed
before the date specified in the notice, the warehouse may sell them
pursuant to Section 7-210 of this title.
(b) 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 (a) of this section and
Section 7-210 of this title, the warehouse may specify in the notice
given under subsection (a) of this section any reasonable shorter
time for removal of the goods and, if the goods are not removed, may
sell them at public sale held not less than one (1) week after a
single advertisement or posting.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 403
(c) 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 warehouse facilities, or
other persons, the warehouse may sell the goods at public or private
sale without advertisement or posting on reasonable notification to
all persons known to claim an interest in the goods. If the
warehouse, after a reasonable effort, is unable to sell the goods,
it may dispose of them in any lawful manner and does not incur
liability by reason of that disposition.
(d) 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.
(e) 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 the warehouse
would have been bound to deliver the goods.
Status: in_force · Read it on the official government site
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