The Florida Senate

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

(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.

(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.

History.--s. 1, ch. 65-254; s. 48, ch. 92-82.

Note.--s. 4-504, U.C.C.