{"code":"COM","codeName":"Commercial Code","section":"4504","citation":"Com. Code, § 4504","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 4. BANK DEPOSITS AND COLLECTIONS [4101. - 4504.]","url":"https://blackletter.si/commercial-code/division-4"},{"name":"CHAPTER 5. Collection of Documentary Drafts [4501. - 4504.]","url":"https://blackletter.si/commercial-code/division-4/chapter-5"}],"history":"Amended by Stats. 1992, Ch. 914, Sec. 50.   Effective January 1, 1993.","effective":"1993-01-01","html":"<p>(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.</p><p>(b) For its reasonable expenses incurred by action under subdivision (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.</p>","text":"(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 subdivision (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.","otherVersions":[],"url":"https://blackletter.si/commercial-code/collection-of-documentary-drafts-4504","source":"California Legislative Information bulk export (pubinfo)"}