2021 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 (2021)

Section 7-4-211

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 7-3-302 on what constitutes a holder in due course.

(Acts 1995, No. 95-668, p. 1381, §2.)

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