Privilege of presenting bank to deal with goods; security interest for expenses

Wis. Stat. § 404.504
in effect
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(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 sub. (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: WI Statutes (Official Site)URL: https://docs.legis.wisconsin.gov/document/statutes/404.504Fetched: 10/7/2026