(4-504) Privilege of presenting bank to deal with goods - Security interest for expenses
N.D. Cent. Code § 41-04-42
in effect41-04-42. (4-504) 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, 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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t41c04.pdf#nameddest=41-04-42Fetched: 10/16/2026