Section 7-4-211 When bank gives value for purposes of holder in due course. - Alabama Statutes

Section 7-4-211

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 7-3-302 on what constitutes a holder in due course.

(Acts 1995, No. 95-668, p. 1381, §2.)