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The Vermont Statutes Online
Title
09A
:
Uniform Commercial Code
Chapter
007
:
Documents of Title
§
7-209. Lien of warehouse
(a) 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 or transportation, 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 the goods or reasonably incurred in
their sale pursuant to law. If the person on whose account the goods are held
is liable for similar charges or expenses in relation to other goods whenever
deposited and it is stated in the warehouse receipt or storage agreement that a
lien is claimed for charges and expenses in relation to other goods, the
warehouse also has a lien against the goods covered by the warehouse receipt or
storage agreement or on the proceeds thereof in its possession for those
charges and expenses, whether or not the other goods have been delivered by the
warehouse. However, as against a person to which a negotiable warehouse receipt
is duly negotiated, a warehouse's lien is limited to charges in an amount or at
a rate specified in the warehouse receipt or, if no charges are so specified,
to a reasonable charge for storage of the specific goods covered by the receipt
subsequent to the date of the receipt.
(b) 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
(a) of this section, such as for money advanced and interest. The security
interest is governed by article 9 of this title.
(c) A
warehouse's lien for charges and expenses under subsection (a) of this section
or a security interest under subsection (b) of this section is also effective
against any person that so entrusted the bailor with possession of the goods
that a pledge of them by the bailor to a good-faith purchaser for value would
have been valid. However, the lien or security interest is not effective
against a person that before issuance of a document of title had a legal
interest or a perfected security interest in the goods and that did not:
(1) deliver or
entrust the goods or any document of title covering the goods to the bailor or
the bailor's nominee with:
(A) actual or
apparent authority to ship, store, or sell;
(B) power to
obtain delivery under section 7-403 of this title; or
(C) power of
disposition under sections 2-403, 2A-304(2), 2A-305(2), 9-320, or 9-321(c) of
this title, or other statute or rule of law; or
(2) acquiesce in
the procurement by the bailor or its nominee of any document.
(d) A
warehouse's lien on household goods for charges and expenses in relation to the
goods under subsection (a) of this section is also effective against all
persons if the depositor was the legal possessor of the goods at the time of
deposit. In this subsection, "household goods" means furniture,
furnishings, or personal effects used by the depositor in a dwelling.
(e) A warehouse
loses its lien on any goods that it voluntarily delivers or unjustifiably
refuses to deliver. (Added 2015, No. 51, § B.3, eff. June 3, 2015.)