554.4211  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 554.3302 on what constitutes a holder in due course.

Section History: Early form

  [S13, § 3060-a27; C24, 27, 31, 35, 39, § 9487; C46, 50, 54, 58, 62, § 541.27; C66, 71, 73, 75, 77, 79, 81, § 554.4209]

Section History: Recent form

  94 Acts, ch 1167, §96, 120, 122

  C95, § 554.4211

Internal References

  Referred to in § 554.1201, 554.5102

Footnotes

  1994 amendments take effect July 1, 1995; 94 Acts, ch 1167, §122; for law prior to July 1, 1995, see §554.4209, Code 1993

  Section transferred from §554.4209 and former §554.4211 transferred to §554.4213 pursuant to directive in 94 Acts, ch 1167, §120

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