North Carolina General Statutes 106-451.21. Delivery of products stored on demand; conditions to delivery
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Terms Used In North Carolina General Statutes 106-451.21
- Lien: A claim against real or personal property in satisfaction of a debt.
- Receipt: means a warehouse receipt issued pursuant to this Article. See North Carolina General Statutes 106-451.7
- Warehouse: means any building, structure or other protected enclosure in which cotton is or may be stored for hire. See North Carolina General Statutes 106-451.7
- Warehouseman: means a person licensed by North Carolina Department of Agriculture and Consumer Services to engage in the business of storing cotton for hire. See North Carolina General Statutes 106-451.7
A warehouseman conducting a warehouse licensed under this Article, in the absence of some lawful excuse, shall, without unnecessary delay, deliver the cotton stored therein upon a demand made either by the holder of a receipt for such cotton or by the depositor thereof if such demand be accompanied with (a) an offer to satisfy the warehouseman’s lien; (b) an offer to surrender the receipt, if negotiable, with such endorsements as would be necessary for the negotiation of the receipt; and (c) a readiness and willingness to sign, when the cotton is delivered, an acknowledgment that it has been delivered if such signature is requested by the warehouseman. (1987, c. 840, s. 1.)