Section 355.4-504 - Privilege of presenting bank to deal with goods - Security interest for expenses(1) 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.(2) For its reasonable expenses incurred by action under subsection (1) 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.Effective:1/1/1997
Amended 1996, Ky. Acts ch. 130, sec. 111, effective1/1/1997 --Created 1958 Ky. Acts ch. 77, sec. 4-504, effective 7/1/1960.