When bank gives value for purposes of holder in due course

  1. Law
  2. Montana Code Annotated
  3. Trade and Commerce
  4. Uniform Commercial Code Bank Deposits and Collections
  5. Collection of Items Depositary and Collecting Banks
  6. When bank gives value for purposes of holder in due course

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30-4-209. When bank gives value for purposes of holder in due course. 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, provided the bank otherwise complies with the requirements of 30-3-302 on what constitutes a holder in due course.

History: En. Sec. 4-209, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-209; amd. Sec. 174, Ch. 410, L. 1991.


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