Statutes > Alabama Statutes > Title 7 — COMMERCIAL CODE. > Article 4 — BANK DEPOSITS AND COLLECTIONS. > Section 7-4-211 When bank gives value for purposes of holder in due course.

Section 7-4-211 When bank gives value for purposes of holder in due course.

Section 7-4-211

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 7-3-302 on what constitutes a holder in due course.

(Acts 1995, No. 95-668, p. 1381, §2.)