2010 Wisconsin Code
Chapter 404. Uniform commercial code--bank deposits and collections.
404.504 Privilege of presenting bank to deal with goods; security interest for expenses.

404.504

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

404.504(1)

(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.

404.504(2)

(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.

404.504 - ANNOT.

History: 1995 a. 449.