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 3—302 of this title on what constitutes a holder in due course. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
Vermont Legal Code