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

S.C. Code Ann. § 36-4-504, under Title 36, Chapter 4.

S.C. Code Ann. § 36-4-504

(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.