12A:4-211. When bank gives value for purposes of holder in due course
47 words·~1 min read·
/nj/title-12a/chapter-4/12a-4-211A 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 12A:3-302 on what constitutes a holder in due course.
L.1995,c.28,s.2.