N.Y. Uniform Commercial Code Law § 7-206: Termination of Storage at Warehouse's Option

Section 7--206. 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 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.

(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) and Section 7--210, the

warehouse may specify in the notice given under subsection (a) 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 week

after a single advertisement or posting.

(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.