104.4504 - Privilege of presenting bank to deal with goods; security interest for expenses. - Nevada Statutes

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.

      (Added to NRS by 1965, 853)