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The Laws of New York
Consolidated Laws of New York
CHAPTER 38
Uniform Commercial Code
ARTICLE 4
Bank Deposits and Collections
PART 2
Collection of Items: Depositary and Collecting Banks
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SECTION 4-208
Security Interest of Collecting Bank in Items, Accompanying Documents and Proceeds
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PART 2
Collection of Items: Depositary and Collecting Banks
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SECTION 4-210
Presentment by Notice of Item Not Payable by, Through or at a Bank; Liability of Secondary Parties
This entry was published on 2014-09-22
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SECTION 4-209
When Bank Gives Value for Purposes of Holder in Due Course
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 4, PART 2
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.