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 § 30-4-504

Title 30TRADE AND COMMERCE

Ch. 4UNIFORM COMMERCIAL CODE BANK DEPOSITS AND COLLECTIONS

Part 5Collection of Documentary Drafts

This text of Montana § 30-4-504 (Privilege Of Presenting Bank To Deal With Goods -- Security Interest For Expenses) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 30-4-504 (2026).

Text

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.