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 KRS 355.3-302 on what constitutes a holder in due course.
KRS 355.4-211
When bank gives value for purposes of holder in due course
Known as the Uniform Commercial Code
The act spans §§ 355.10-101 to 355.9-809 (686 sections).
Effective: January 1, 1997 History: Repealed, reenacted, renumbered as KRS 355.4-211, and amended 1996 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.