Minn. Stat. § 336.4-504
Privilege of Presenting Bank to Deal with Goods; Security Interest for Expenses
Minnesota · Minnesota Statutes Chapter 336 — Uniform Commercial Code · Status: effective
Cite this
- Citation
- Minn. Stat. § 336.4-504, Privilege of Presenting Bank to Deal with Goods; Security Interest for Expenses, Minnesota, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1728705
- Permanent ID
ys:prov:1728705@1- SHA-256
9fa5e36aecf53077faf8bd4f89a305d34a8a6cc534979ff31933a9f9c2362620
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full 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.