When Bank Gives Value for Purposes of Holder in Due Course.

  1. Law
  2. New York Laws
  3. Uniform Commercial Code
  4. Collection of Items: Depositary and Collecting Banks
  5. When Bank Gives Value for Purposes of Holder in Due Course.

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Section 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, the bank has given value to the extent that it has a security interest in an item provided that the bank otherwise complies with the requirements of Section 3--302 on what constitutes a holder in due course.



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