47-4504. Privilege of presenting bank to deal
with goods; security interest for expenses


A. A presenting bank that, following the dishonor of a documentary draft, has
seasonably requested instructions 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 reasonable expenses incurred by action under subsection A, the
presenting bank has a lien upon the goods or their proceeds, which may be foreclosed in
the same manner as an unpaid seller's lien.