South Carolina § 36-4-504 Privilege of presenting bank to deal with goods; security interest for expenses.

South Carolina Statutes

§ 36-4-504 — Privilege of presenting bank to deal with goods; security interest for expenses.

South Carolina § 36-4-504

Title 36COMMERCIAL CODE

Ch. 4COMMERCIAL CODE—BANK DEPOSITS AND COLLECTIONS

This text of South Carolina § 36-4-504 (Privilege of presenting bank to deal with goods; security interest for expenses.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 36-4-504 (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 Subsection (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 Subsection (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.