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2018 Code of Alabama
Title 7 - COMMERCIAL CODE.
Article 4 - BANK DEPOSITS AND COLLECTIONS.
Part 2 - Collection of Items: Depositary and Collecting Banks.
Section 7-4-211 - When bank gives value for purposes of holder in due course.
Universal Citation: AL Code § 7-4-211 (2018)
Section 7-4-211When 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 7-3-302 on what constitutes a holder in due course.
(Acts 1995, No. 95-668, p. 1381, §2.)
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