Current as of April 21, 2021 | Updated by FindLaw Staff
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(a) A presenting bank that, following the dishonor of a documentary draft, seasonably requests instructions but does not receive them within a reasonable time, may store, sell, or otherwise deal with the goods in a reasonable manner.
(b) For its reasonable expenses incurred by action under (a) of this section, 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.
Cite this article: FindLaw.com - Alaska Statutes Title 45. Trade and Commerce § 45.04.504. Privilege of presenting bank to deal with goods; security interest for expenses - last updated April 21, 2021 | https://codes.findlaw.com/ak/title-45-trade-and-commerce/ak-st-sect-45-04-504/
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