1. MCA Contents
  2. TITLE 30
  3. CHAPTER 4
  4. Part 2
  5. 30-4-209 When bank gives value for purposes of holder in due course

TITLE 30. TRADE AND COMMERCE

CHAPTER 4. UNIFORM COMMERCIAL CODE BANK DEPOSITS AND COLLECTIONS

Part 2. Collection of Items Depositary and Collecting Banks

When Bank Gives Value For Purposes Of Holder In Due Course

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.