2004 Minnesota Statutes

     336.4-504 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.  

    HIST: 1965 c 811 s 336.4-504; 1992 c 565 s 112