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 36-3-302 on what constitutes a holder in due course.
HISTORY: 1962 Code Section 10.4-211; 1966 (54) 2716; 2008 Act No. 204, Section 3, eff July 1, 2008.
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