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Maryland · Through 2026-01-01

Md. Code, Commercial Law § 4–504

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  1. Article - Commercial Law

(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.

Collected 2026-09-14T19:56:33Z. Source file · JSON

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