When bank gives value for purposes of holder in due course

  1. Law
  2. Arkansas Code
  3. Business and Commercial Law
  4. Uniform Commercial Code
  5. Bank Deposits and Collections
  6. Collection of Items — Depositary and Collecting Banks
  7. When bank gives value for purposes of holder in due course

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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 § 4-3-302 on what constitutes a holder in due course.

History. Acts 1961, No. 185, § 4-209; A.S.A. 1947, § 85-4-209; Acts 1991, No. 572, § 6.

A.C.R.C. Notes. This section was formerly codified as § 4-4-209. Former § 4-4-211 has been renumbered as § 4-4-213.


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