2005 Connecticut Code - Sec. 42a-4-211. When bank gives value for purposes of holder in due course.

      Sec. 42a-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 42a-3-302 on what constitutes a holder in due course.

      (1959, P.A. 133, S. 4-211; P.A. 91-304, S. 89.)

      History: P.A. 91-304 entirely replaced former provisions re media of remittance and provisional and final settlement in remittance cases with provisions re when a bank gives value for purposes of holder in due course status, a restatement of Sec. 42a-4-209, revised to 1991.