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

Va. Code Ann. § 8.4-504
in effect
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(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. 1964, c. 219; 1992, c. 693.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/8.4-504/Fetched: 10/17/2026

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