For purposes of determining its status as a holder in due course, a bank has given value to the extent that it has a security interest in an item, if the bank otherwise complies with the requirements of § 3-302 on what constitutes a holder in due course.

Added by Acts 1975, c. 49, § 2, eff. July 1, 1975. Renumbered from Commercial Law § 4-209 and amended by Acts 1996, c. 91, § 2, eff. Jan. 1, 1997.

Formerly Art. 95B, § 4-209.