Part 2. Warehouse Receipts: Special Provisions
(A) 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 those goods . However, different lots of fungible goods may be commingled.
(B) 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 that owner's share. If, because of overissue, a mass of fungible goods is insufficient to meet all the receipts the warehouse has issued against it, the persons entitled include all holders to which overissued receipts have been duly negotiated.
Renumbered from § 1307.12 and amended by 129th General AssemblyFile No.9, HB 9, §1, eff. 6/29/2011.
Section: Previous 1307.106 1307.201 1307.202 1307.203 1307.204 1307.205 1307.206 1307.207 1307.208 1307.209 1307.210 1307.301 1307.302 1307.303 1307.304 NextLast modified: October 10, 2016