§490:4-504  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. [L 1965, c 208, §4-504; HRS §490:4-504; am L 1991, c 118, pt of
§4]