(1) The statute of limitations for liability of a warehouse business entity arising from the loss of or damage to the deposited goods, shall expire after one year has elapsed from the date the goods were taken out of the warehouse.
(2) The period mentioned in the preceding paragraph shall, in cases of total loss of the deposited goods, be computed from the date of giving notice of such loss to the depositor and the holder of the warehouse receipt who is known to him/her.
(3) The provisions of the preceding two paragraphs shall not apply where a warehouse business entity or any of his/her employees has acted in bad faith.