§ 4–504
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 4-504 (2026)
Title 4. Bank Deposits and Collections
Subtitle 5. Collection of Documentary Drafts
§ 4–504LinkCopy Citation
(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) 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.