- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 4. Bank Deposits and Collections
- Section 504. Privilege of Presenting Bank to Deal With Goods; Security Interest For Expenses.
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AS 45.04.504. Privilege of Presenting Bank to Deal With Goods; Security Interest For Expenses.
- (a) A presenting bank that, following the dishonor of a documentary draft, seasonably requests instructions but does not
receive them within a reasonable time, may store, sell, or otherwise deal with the goods in a reasonable manner.
- (b) For its reasonable expenses incurred by action under (a) of this section, 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.
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