Okla. Stat. tit. 12A, § 12A-4-504
This is the official text of Okla. Stat. tit. 12A, § 12A-4-504, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Privilege of Presenting Bank to Deal With Goods;
Official statutory text
Security Interest for Expenses.
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) 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.
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) 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.
Status: in_force · Read it on the official government site
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