Sec. 504. (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. Formerly: Acts 1963, c.317, s.4-504. As amended by P.L.222-1993, SEC.45. IC 26-1-4.1 Chapter 4.1. Fund Transfers 26-1-4.1-101 Short title 26-1-4.1-102 Subject matter 26-1-4.1-103 Payment order—definitions 26-1-4.1-104 Funds transfer—definitions 26-1-4.1-105 Other definitions 26-1-4.1-106 Time payment order is received 26-1-4.1-107 Federal reserve regulations and operating circulars 26-1-4.1-108 Exclusion of consumer transactions governed by federal law 26-1-4.1-201 "Security procedure" 26-1-4.1-202 Authorized and verified payment orders; security procedures; commercial reasonableness 26-1-4.1-203 Unenforceability of certain verified payment orders 26-1-4.1-204 Refund of payment and duty of customer to report with respect to unauthorized payment order 26-1-4.1-205 Erroneous payment orders 26-1-4.1-206 Transmission of payment order through funds-transfer or other communication system 26-1-4.1-207 Misdescription of beneficiary 26-1-4.1-208 Misdescription of intermediary bank or beneficiary's bank 26-1-4.1-209 Acceptance of payment order 26-1-4.1-210 Rejection of payment order 26-1-4.1-211 Cancellation and amendment of payment order 26-1-4.1-212 Liability and duty of receiving bank regarding unaccepted payment order 26-1-4.1-301 Execution and execution date 26-1-4.1-302 Obligations of receiving bank in execution of payment order 26-1-4.1-303 Erroneous execution of payment order 26-1-4.1-304 Duty of sender to report erroneously executed payment order 26-1-4.1-305 Liability for late or improper execution or failure to execute payment order 26-1-4.1-401 "Payment date" 26-1-4.1-402 Obligation of sender to pay receiving bank 26-1-4.1-403 Payment by sender to receiving bank 26-1-4.1-404 Obligation of beneficiary's bank to pay and give notice to beneficiary 26-1-4.1-405 Payment by beneficiary's bank to beneficiary 26-1-4.1-406 Payment by originator to beneficiary; discharge of underlying obligation 26-1-4.1-501 Variation by agreement and effect of funds transfer system rule 26-1-4.1-502 Creditor process served on receiving bank; setoff by beneficiary's bank 26-1-4.1-503 Injunction or restraining order with respect to funds transfer 26-1-4.1-504 Order in which items and payment orders may be charged to account; order of withdrawals from account 26-1-4.1-505 Preclusion of objection to debit of customer's account 26-1-4.1-506 Rate of interest 26-1-4.1-507 Choice of law
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