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2025 Texas Statutes
Business & Commerce Code
Title 1 - Uniform Commercial Code
Chapter 4 - Bank Deposits and Collections
Subchapter E. Collection of Documentary Drafts
Section 4.504. Privilege of Presenting Bank to Deal With Goods; Security Interest for Expenses
Universal Citation:
§ 4.504 (2025)
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Sec. 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.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1, eff. Sept. 1, 1967. Amended by Acts 1995, 74th Leg., ch. 921, Sec. 4, eff. Jan. 1, 1996.
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