{"data":{"id":"us-me/11-m.r.s.-4-504","jurisdiction":"us-me","citation":"11 M.R.S. §4-504","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.\n(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.","path":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 5: COLLECTION OF DOCUMENTARY DRAFTS"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec4-504.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"766c88d65f8820fd95d52cf02b3218fc7bdb4966854c91bf9d64d32f6c027d84","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-4-503","next":"us-me/11-m.r.s.-4-1101"},"notice":"GroundRules: Original legal text. Not legal advice."}