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 75-3-302 on what constitutes a holder in due course.
Miss. Code Ann. § 75-4-211
When bank gives value for purposes of holder in due course
Known as the Uniform Commercial Code
The act spans §§ 75–75 (480 sections).
Formerly § 75-4-209:Codes, 1942, § 41A:4-209; Laws, 1966, ch. 316, § 4-209; Laws, 1992, ch. 420, § 93, eff from and after January 1, 1993.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.