§4-209. When bank gives value for purposes of holder in due course
55 words·~1 min read·
/me/title-11-uniform-commercial-code/4-209A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of determining its status as a holder in due course, a bank has given value to the extent it has a security interest in an item, if the bank otherwise complies with the requirements of section 3‑1302 on what constitutes a holder in due course. [PL 1993, c. 293, Pt. B, §29 (AMD).]