Okla. Stat. tit. 12A, § 12A-4-504: Privilege of Presenting Bank to Deal With Goods;
Where this section sits in the code
- OK Code
- Title 12A
Security Interest for Expenses.
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) of this section, 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 2026-09-14T18:32:36Z. Source file · JSON