N.Y. Uniform Commercial Code Law § 7-207: Goods Must Be Kept Separate; Fungible Goods

Section 7--207. Goods Must Be Kept Separate; Fungible Goods.

(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.