Texas Business & Commerce Code

§ 4.211 — WHEN BANK GIVES VALUE FOR PURPOSES OF HOLDER IN DUE COURSE

BC § 4.211Title 1. UNIFORM COMMERCIAL CODE · Ch. 4. BANK DEPOSITS AND COLLECTIONS · Art. B. COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS

Statute text

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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 3.302 on what constitutes a holder in due course.

Legislative history

Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1, eff. Sept. 1, 1967. Renumbered from Sec. 4.209 and amended by Acts 1995, 74th Leg., ch. 921, Sec. 4, eff. Jan. 1, 1996.