N.Y. U.C.C. 4-209

Section 4--209. When Bank Gives Value for Purposes of Holder in Due\n Course.\n For purposes of determining its status as a holder in due course, the\nbank has given value to the extent that it has a security interest in an\nitem provided that the bank otherwise complies with the requirements of\nSection 3--302 on what constitutes a holder in due course.\n