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 § 4-3-302 on what constitutes a holder in due course.
Ark. Code Ann. § 4-4-211
When bank gives value for purposes of holder in due course
Known as the Uniform Commercial Code
The act spans §§ 4–4 (597 sections).
Acts 1961, No. 185, § 4-209; A.S.A. 1947, § 85-4-209; Acts 1991, No. 572, § 6.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.