Pennsylvania § 4504 - Privilege of presenting bank to deal with goods; security interest for expenses.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 4504 — Privilege of presenting bank to deal with goods; security interest for expenses., with citation guidance and answers to common questions.
§ 4504. Privilege of presenting bank to deal with goods; security interest for expenses.
(a) Dealing with goods following dishonor of documentary draft.--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) Security interest for expenses.--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 lien of a seller.
(July 9, 1992, P.L.507, No.97, eff. one year)
DIVISION 4A
FUNDS TRANSFERS
Source: official Pennsylvania text · Last verified 2026-08-27
Frequently Asked Questions About Pennsylvania § 4504
What does Pennsylvania Consolidated Statutes § 4504 cover?
Section 4504 ("Privilege of presenting bank to deal with goods; security interest for expenses.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. 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 Pennsylvania § 4504?
A common citation format is "Pennsylvania Consolidated Statutes § 4504" (Pennsylvania). 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 Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 4504 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania 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 Pennsylvania.