Statutes > New York Statutes > UCC - Uniform Commercial Code > Article 4 - BANK DEPOSITS AND COLLECTIONS > Part 2 - (4-201 - 4-214) COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS > 4-209 - When Bank Gives Value for Purposes of Holder in Due Course.

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

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.