§ 7210.  Enforcement of warehouse's lien.
        (a)  Sale.--
            (1)  Except as otherwise provided in subsection (b), a
        warehouse's lien may be enforced by public or private sale of
        the goods, in bulk or in packages, at any time or place and
        on any terms that are commercially reasonable, after
        notifying all persons known to claim an interest in the
        goods.
            (2)  The notification must include a statement of the
        amount due, the nature of the proposed sale and the time and
        place of any public sale.
            (3)  The fact that a better price could have been
        obtained by a sale at a different time or in a different
        method from that selected by the warehouse is not of itself
        sufficient to establish that the sale was not made in a
        commercially reasonable manner.
            (4)  The warehouse has sold 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 has otherwise sold
        in conformity with commercially reasonable practices among
        dealers in the type of goods sold.
            (5)  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 paragraph
        (4).
        (b)  Conditions of enforcement.--A warehouse's lien on goods,
     other than goods stored by a merchant in the course of its
     business, may be enforced 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:
                (i)  an itemized statement of the claim;
                (ii)  a description of the goods subject to the lien;
                (iii)  a demand for payment within a specified time
            not less than ten days after receipt of the notification;
            and
                (iv)  a conspicuous statement that unless the claim
            is paid within that time the goods will be advertised for
            sale and sold at 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 two 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 ten days
        before the sale in not less than six conspicuous places in
        the neighborhood of the proposed sale.
        (c)  Satisfaction.--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 division.
        (d)  Purchase by warehouse.--A warehouse may buy at any
     public sale held pursuant to this section.
        (e)  Purchaser in good faith.--A purchaser in good faith of
     goods sold to enforce a warehouse's lien takes the goods free of
     any rights of persons against which the lien was valid, despite
     the warehouse's noncompliance with this section.
        (f)  Proceeds of sale.--A warehouse may satisfy its lien from
     the proceeds of any sale pursuant to this section but shall hold
     the balance, if any, for delivery on demand to any person to
     which the warehouse would have been bound to deliver the goods.
        (g)  Additional rights.--The rights provided by this section
     are in addition to all other rights allowed by law to a creditor
     against a debtor.
        (h)  Goods stored by merchant.--If a lien is on goods stored
     by a merchant in the course of its business, the lien may be
     enforced in accordance with subsection (a) or (b).
        (i)  Liability of warehouse.--A warehouse is liable for
     damages caused by failure to comply with the requirements for
     sale under this section and, in case of willful violation, is
     liable for conversion.

        Cross References.  Section 7210 is referred to in sections
     7206, 7308 of this title.