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 47-3302 on what constitutes a holder in due course.
A.R.S. § 47-4211
When bank gives value for purposes of holder in due course
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.