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2018 Georgia Code 11-4-504 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 11-4-504 Case Law from Google Scholar Amendments to OCGA 11-4-504

TITLE 11 COMMERCIAL CODE

Section 4. Bank Deposits and Collections, 11-4-101 through 11-4-504.

ARTICLE 4 BANK DEPOSITS AND COLLECTIONS

11-4-504. 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 (a) of this Code 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.

(Code 1933, § 109A-4 - 504, enacted by Ga. L. 1962, p. 156, § 1; Ga. L. 1996, p. 1306, § 14.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 11 Am. Jur. 2d, Banks and Financial Institutions, §§ 993, 996. 67 Am. Jur. 2d, Sales, § 38.

C.J.S.

- 9 C.J.S., Banks and Banking, § 414 et seq.

U.L.A.

- Uniform Commercial Code (U.L.A.) § 4-504.

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