Privilege of presenting bank to deal with goods; security interest for expenses.
Neb. U.C.C. § 4-504
in effectUCC 4-504. Privilege of presenting bank to deal with goods; security interest for expenses.
(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.
Laws 1963, c. 544, Art. IV, § 4-504, p. 1834; Laws 1991, LB 161, § 111.
Source: Nebraska Legislature (nebraskalegislature.gov)URL: https://nebraskalegislature.gov/laws/ucc.php?code=4-504Fetched: 10/20/2026