§490:2-506  Rights of financing agency. 
(1)  A financing agency by paying or purchasing for value a draft which relates
to a shipment of goods acquires to the extent of the payment or purchase and in
addition to its own rights under the draft and any document of title securing
it any rights of the shipper in the goods including the right to stop delivery
and the shipper's right to have the draft honored by the buyer.



(2)  The right to reimbursement of a financing
agency which has in good faith honored as purchased the draft under commitment
to or authority from the buyer is not impaired by subsequent discovery of
defects with reference to any relevant document which was apparently regular.
[L 1965, c 208, §2-506; HRS §490:2-506; am L 2004, c 163, §11]