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  • SECTION 4-208
    Security Interest of Collecting Bank in Items, Accompanying Documents and Proceeds
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  • PART 2
    Collection of Items: Depositary and Collecting Banks
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  • SECTION 4-210
    Presentment by Notice of Item Not Payable by, Through or at a Bank; Liability of Secondary Parties
    • This entry was published on 2014-09-22
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    SECTION 4-209

    When Bank Gives Value for Purposes of Holder in Due Course

    Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 4, PART 2

    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.