4-209 - When Bank Gives Value for Purposes of Holder in Due Course. - New York Statutes

Section 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, the bank has given value to the extent that it has a security interest in an item provided that the bank otherwise complies with the requirements of Section 3--302 on what constitutes a holder in due course.