Fla. Stat. 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.

Source: Section 674.504 — Privilege of presenting bank to deal with goods; security interest for expenses, https://www.­flsenate.­gov/Laws/Statutes/2024/0674.­504 (accessed Aug. 7, 2025).

Current through Fall 2025

§ 674.504. Privilege of presenting bank to deal with goods; security interest for expenses's source at flsenate​.gov