Alaska Statutes 45.07.207 – 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.

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Terms Used In Alaska Statutes 45.07.207

goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Alaska Statutes 45.07.112
warehouse: means a person engaged in the business of storing goods for hire. See Alaska Statutes 45.07.112

(b) If different lots of fungible goods are commingled, the goods are owned in common by the persons entitled to them, 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 that the warehouse has issued against it, the persons entitled include all holders to whom overissued receipts have been duly negotiated.

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