Section 336.4-504 Privilege of Presenting Bank to Deal with Goods; Security Interest for Expenses

State Codes and Statutes

Statutes > Minnesota > 324-338 > 336 > 336_4-504

336.4-504 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.

History:

1965 c 811 s 336.4-504; 1992 c 565 s 112

State Codes and Statutes

Statutes > Minnesota > 324-338 > 336 > 336_4-504

336.4-504 PRIVILEGE OF PRESENTING BANK TO DEAL WITH GOODS; SECURITY INTEREST FOR EXPENSES.

History:

1965 c 811 s 336.4-504; 1992 c 565 s 112

State Codes and Statutes

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State Codes and Statutes

Statutes > Minnesota > 324-338 > 336 > 336_4-504

336.4-504 PRIVILEGE OF PRESENTING BANK TO DEAL WITH GOODS; SECURITY INTEREST FOR EXPENSES.

History:

1965 c 811 s 336.4-504; 1992 c 565 s 112

State Codes and Statutes

336.4-504 PRIVILEGE OF PRESENTING BANK TO DEAL WITH GOODS; SECURITY INTEREST FOR EXPENSES.

History:

State Codes and Statutes

336.4-504 PRIVILEGE OF PRESENTING BANK TO DEAL WITH GOODS; SECURITY INTEREST FOR EXPENSES.

History:

State Codes and Statutes

State Codes and Statutes

336.4-504 PRIVILEGE OF PRESENTING BANK TO DEAL WITH GOODS; SECURITY INTEREST FOR EXPENSES.

History:

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