Section 75-4-211 - 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 75-3-302 on what constitutes a holder in due course.Formerly § 75-4-2091942, § 41A:4-209; Laws, 1966, ch. 316, § 4-209; Laws, 1992, ch. 420, § 93, eff. 1/1/1993.