{"data":{"id":"us-ia/iowa-code-554.4504","jurisdiction":"us-ia","citation":"Iowa Code § 554.4504","heading":"Privilege of presenting bank to deal with goods — security interest for expenses.","body":"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.\n2. 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.","path":["Title XIII - COMMERCE (Ch. 505 - 554I)","Chapter 554 - UNIFORM COMMERCIAL CODE","Article 4 - BANK DEPOSITS AND COLLECTIONS","Part 5 - COLLECTION OF DOCUMENTARY DRAFTS"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/554.4504.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:15Z","sha256":"410755607c32a7d58ac678f567e445c89134333c79c29ab8e5ad0a5729c88e59","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-554.4503","next":"us-ia/iowa-code-554.5101"},"notice":"GroundRules: Original legal text. Not legal advice."}