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 28:3-302 on what constitutes a holder in due course. (Dec. 30, 1963, 77 Stat. 700, Pub. L. 88-243, § 1; Mar. 23, 1995, D.C. Law 10-249, § 2(e), 42 DCR 467.) Prior Codifications 1981 Ed., § 28:4-211. 1973 Ed., § 28:4-209. Section References This section is referenced in § 28:5-102. Uniform Commercial Code Comment The section completes the thought of the previous section and makes clear that a security interest in an item is 'value' for the purpose of determining the holder’s status as a holder in due course. The provision is in accord with the prior law (N.I.L. Section 27) and with Article 3 ( Section 3-303). The section does not prescribe a security interest under Section 4-210 as a test of 'value' generally because the meaning of 'value' under other Articles is adequately defined in Section 1-201. Reason for 1990 Change [D.C.

escribe a security interest under Section 4-210 as a test of 'value' generally because the meaning of 'value' under other Articles is adequately defined in Section 1-201. Reason for 1990 Change [D.C. Law 10-249] Modified to conform with current drafting practices; no intent to change substance.