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, provided the bank otherwise complies with the requirements of section 41-03-28.
N.D. Cent. Code § 41-04-23
(4-211) When bank gives value for purposes of holder in due course
Known as the Uniform Commercial Code
The act spans §§ 41-01-01 to 41-12-07 (597 sections).
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.