Alaska § 45.04.504 - Privilege of presenting bank to deal with goods; security interest for expenses.
Full text of Alaska Alaska Statutes § 45.04.504 — Privilege of presenting bank to deal with goods; security interest for expenses., with citation guidance and answers to common questions.
§ 45.04.504. Privilege of presenting bank to deal with goods; security interest for expenses.
(a) A presenting bank that, following the dishonor of a documentary draft, seasonably requests instructions but does not receive them within a reasonable time, may store, sell, or otherwise deal with the goods in a reasonable manner.
(b) For its reasonable expenses incurred by action under (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.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 45.04.504
What does Alaska Statutes § 45.04.504 cover?
Section 45.04.504 ("Privilege of presenting bank to deal with goods; security interest for expenses.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 45.04.504?
A common citation format is "Alaska Statutes § 45.04.504" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 45.04.504 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.