For purposes of determining its status as a holder in due course, a bank has given value to the extent that it has a security interest in an item, if the bank otherwise complies with the requirements of § 3-302 on what constitutes a holder in due course.
Md. Code Ann., Com. Law § 4-211
Known as the Uniform Commercial Code
The act spans §§ 4–4 (41 sections).
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.