State Codes and Statutes
Statutes > North-carolina > Chapter_25 > GS_25-4-504§25‑4‑504. Privilege of presenting bank to deal with goods;security interest for expenses.
(a) A presenting bankthat, following the dishonor of a documentary draft, has seasonably requestedinstructions but does not receive them within a reasonable time may store,sell, or otherwise deal with the goods in any reasonable manner.
(b) For its reasonableexpenses incurred by action under subsection (a) of this section, thepresenting bank has a lien upon the goods or their proceeds, which may beforeclosed in the same manner as an unpaid seller's lien. (1965,c. 700, s. 1; 1995, c. 232, s. 2.)
