Privilege of presenting bank to deal with goods; security interest for expenses.

S.C. Code Ann. § 36-4-504
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(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 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 seller's lien.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t36c004.phpFetched: 10/17/2026

Starting a business in South Carolina? South Carolina LLC guide: costs and requirements