75-4-211 - When bank gives value for purposes of holder in due course. - Mississippi Statutes

§ 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 § 75-4-209:Codes, 1942, § 41A:4-209; Laws,  1966, ch. 316, § 4-209; Laws,  1992, ch. 420, § 93, eff from and after January 1, 1993.