Statutes > New Mexico Statutes > Chapter 55 - Uniform Commercial Code. > Article 4 - Bank Deposits and Collections, 55-4-101 through 55-4-504. > Section 55-4-211 - When bank gives value for purposes of holder in due course.

Section 55-4-211 - When bank gives value for purposes of holder in due course.

55-4-211. 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 55-3-302 NMSA 1978 on what constitutes a holder in due course.