Laws of New York (Last Updated: November 21, 2014) |
UCC Uniform Commercial Code |
Article 4. BANK DEPOSITS AND COLLECTIONS |
Part 2. COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS |
Section 4--209. When Bank Gives Value for Purposes of Holder in Due Course
Latest version.
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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