As Amended
SEC. 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.
SOURCES: Formerly Sec. 75-4-209:Codes, 1942, Sec. 41A:4-209; Laws, 1966, ch. 316, Sec. 4-209. Laws, 1992, ch. 420, Sec. 93, eff from and after January 1, 1993.