Montana § 30-4-504 Privilege Of Presenting Bank To Deal With Goods -- Security Interest For Expenses

Montana Statutes

§ 30-4-504 — Privilege Of Presenting Bank To Deal With Goods -- Security Interest For Expenses

Montana·Title 30 TRADE AND COMMERCE·Ch. 4 UNIFORM COMMERCIAL CODE BANK DEPOSITS AND COLLECTIONS·Part 5 Collection of Documentary Drafts

30-4-504 . Privilege of presenting bank to deal with goods -- security interest for expenses.

(1)A presenting bank which, 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.

(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.

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30-4-504 . Privilege of presenting bank to deal with goods -- security interest for expenses. (1) A presenting bank which, 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.
(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.

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