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, if the bank otherwise complies with the requirements of section 4-3-302 on what constitutes a holder in due course.

Source: L. 94: Entire article amended with relocations, p. 892, § 2, effective January 1, 1995.