ROBERT L. EHRLICH, JR., Governor                              Ch. 95

DUE, THE NATURE OF THE PROPOSED SALE, AND THE TIME AND PLACE OF ANY
PUBLIC SALE. THE FACT THAT A BETTER PRICE COULD HAVE BEEN OBTAINED BY A
SALE AT A DIFFERENT TIME OR IN A METHOD DIFFERENT FROM THAT SELECTED BY
THE WAREHOUSE IS NOT OF ITSELF SUFFICIENT TO ESTABLISH THAT THE SALE WAS
NOT MADE IN A COMMERCIALLY REASONABLE MANNER THE WAREHOUSE SELLS IN
A COMMERCIALLY REASONABLE MANNER IF THE WAREHOUSE SELLS THE GOODS IN
THE USUAL MANNER IN ANY RECOGNIZED MARKET THEREFOR, SELLS AT THE PRICE
CURRENT IN THAT MARKET AT THE TIME OF THE SALE, OR OTHERWISE SELLS IN
CONFORMITY WITH COMMERCIALLY REASONABLE PRACTICES AMONG DEALERS IN
THE TYPE OF GOODS SOLD. A SALE OF MORE GOODS THAN APPARENTLY NECESSARY
TO BE OFFERED TO ENSURE SATISFACTION OF THE OBLIGATION IS NOT
COMMERCIALLY REASONABLE, EXCEPT IN CASES COVERED BY THE PRECEDING
SENTENCE.

(B)     A WAREHOUSE MAY ENFORCE ITS LIEN ON GOODS, OTHER THAN GOODS
STORED BY A MERCHANT IN THE COURSE OF ITS BUSINESS, ONLY IF THE
FOLLOWING REQUIREMENTS ARE SATISFIED:

(1)      ALL PERSONS KNOWN TO CLAIM AN INTEREST IN THE GOODS MUST
BE NOTIFIED.

(2)      THE NOTIFICATION MUST INCLUDE AN ITEMIZED STATEMENT OF
THE CLAIM, A DESCRIPTION OF THE GOODS SUBJECT TO THE LIEN, A DEMAND FOR
PAYMENT WITHIN A SPECIFIED TIME NOT LESS THAN 10 DAYS AFTER RECEIPT OF
THE NOTIFICATION, AND A CONSPICUOUS STATEMENT THAT UNLESS THE CLAIM IS
PAID WITHIN THAT TIME THE GOODS WILL BE ADVERTISED FOR SALE AND SOLD BY
AUCTION AT A SPECIFIED TIME AND PLACE.

(3)      THE SALE MUST CONFORM TO THE TERMS OF THE NOTIFICATION.

(4)      THE SALE MUST BE HELD AT THE NEAREST SUITABLE PLACE TO
WHERE THE GOODS ARE HELD OR STORED.

(5)      AFTER THE EXPIRATION OF THE TIME GIVEN IN THE NOTIFICATION,
AN ADVERTISEMENT OF THE SALE MUST BE PUBLISHED ONCE A WEEK FOR 2 WEEKS
CONSECUTIVELY IN A NEWSPAPER OF GENERAL CIRCULATION WHERE THE SALE IS
TO BE HELD. THE ADVERTISEMENT MUST INCLUDE A DESCRIPTION OF THE GOODS,
THE NAME OF THE PERSON ON WHOSE ACCOUNT THE GOODS ARE BEING HELD, AND
THE TIME AND PLACE OF THE SALE. THE SALE MUST TAKE PLACE AT LEAST 15 DAYS
AFTER THE FIRST PUBLICATION. IF THERE IS NO NEWSPAPER OF GENERAL
CIRCULATION WHERE THE SALE IS TO BE HELD, THE ADVERTISEMENT MUST BE
POSTED AT LEAST 10 DAYS BEFORE THE SALE IN NOT FEWER THAN SIX
CONSPICUOUS PLACES IN THE NEIGHBORHOOD OF THE PROPOSED SALE.

(C)     BEFORE ANY SALE PURSUANT TO THIS SECTION, ANY PERSON CLAIMING A
RIGHT IN THE GOODS MAY PAY THE AMOUNT NECESSARY TO SATISFY THE LIEN AND
THE REASONABLE EXPENSES INCURRED IN COMPLYING WITH THIS SECTION. IN
THAT EVENT, THE GOODS MAY NOT BE SOLD BUT MUST BE RETAINED BY THE
WAREHOUSE SUBJECT TO THE TERMS OF THE RECEIPT AND THIS TITLE.

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