California § 4504. 4504. (Amended by Stats. 1992, Ch. 914, Sec. 50.)

California Statutes

§ 4504. — 4504. (Amended by Stats. 1992, Ch. 914, Sec. 50.)

California § 4504.

Code COMCommercial Code - COM

Div. 4.DIVISION 4. BANK DEPOSITS AND COLLECTIONS

Ch. 5.CHAPTER 5. Collection of Documentary Drafts

This text of California § 4504. (4504. (Amended by Stats. 1992, Ch. 914, Sec. 50.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Commercial Code - COM Code § 4504. (2026).

Text

(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 subdivision (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.

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(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 subdivision (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.

Legislative History

Amended by Stats. 1992, Ch. 914, Sec. 50. Effective January 1, 1993.

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California § 4504., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/COM/4504..