554.4504 Privilege of presenting bank to deal with goods — security interest for expenses. 1. 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, orotherwise 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 asan unpaid seller’s lien. [C66, 71, 73, 75, 77, 79, 81, §554.4504]94 Acts, ch 1167, §116, 122 Sat Dec 23 01:57:34 2023 Iowa Code 2024, Section 554.4504 (24, 0)
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