NRS 104.4504
Privilege of presenting bank to deal with goods

  • security interest for expenses.

1.

A presenting bank which, 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.
ARTICLE 5
LETTERS OF CREDIT

Source: Section 104.4504 — Privilege of presenting bank to deal with goods; security interest for expenses., https://www.­leg.­state.­nv.­us/NRS/NRS-104.­html#NRS104Sec4504.

Last Updated

Jun. 24, 2021

§ 104.4504’s source at nv​.us