Revised Code of Washington - RCW Title 62A Uniform Commercial Code - Section 62A.4-504 Privilege of presenting bank to deal with goods; security interest for expenses

§ 62A.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.

[1993 c 229 § 116; 1965 ex.s. c 157 § 4-504.]

Notes:
     Recovery of attorneys' fees -- Effective date -- 1993 c 229: See RCW 62A.11-111 and 62A.11-112.

Sections:  Previous  62A.4-216  62A.4-301  62A.4-302  62A.4-303  62A.4-401  62A.4-402  62A.4-403  62A.4-404  62A.4-405  62A.4-406  62A.4-407  62A.4-501  62A.4-502  62A.4-503  62A.4-504

Last modified: April 7, 2009