{"data":{"id":"us-ny/n.y.-uniform-commercial-code-law-4-504","jurisdiction":"us-ny","citation":"N.Y. Uniform Commercial Code Law § 4-504","heading":"Privilege of Presenting Bank to Deal With Goods; Security Interest for Expenses","body":"Section 4--504. Privilege of Presenting Bank to Deal With Goods;\n                  Security Interest for Expenses.\n  (1) A presenting bank which, following the dishonor of a documentary\ndraft, has seasonably requested instructions but does not receive them\nwithin a reasonable time may store, sell, or otherwise deal with the\ngoods in any reasonable manner.\n  (2) For its reasonable expenses incurred by action under subsection\n(1) the presenting bank has a lien upon the goods or their proceeds,\nwhich may be foreclosed in the same manner as an unpaid seller's lien.","path":["Uniform Commercial Code Law","Article 4. Bank Deposits and Collections","Part 5. Collection of Documentary Drafts"],"source_url":"https://legislation.nysenate.gov/api/3/laws/UCC/4-504","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"6f646cae729071ededada3c36ae7df016dac229ace4e304fa6d87d60abe60313","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-uniform-commercial-code-law-4-503","next":"us-ny/n.y.-uniform-commercial-code-law-4-a-101"},"notice":"GroundRules: Original legal text. Not legal advice."}