11 §4-209. When bank gives value for purposes of holder in due course - Maine Statutes

Title 11: UNIFORM COMMERCIAL CODE

Article 4: BANK DEPOSITS AND COLLECTIONS

Part 2: COLLECTION OF ITEMS; DEPOSITARY AND COLLECTING BANKS

§4-209. 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 3-1302 on what constitutes a holder in due course. [1993, c. 293, Pt. B, §29 (AMD).]

SECTION HISTORY

1993, c. 293, §B29 (AMD).