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 3302 (relating to holder in due course).
13 Pa.C.S. § 4211
When bank gives value for purposes of holder in due course
Known as the Uniform Commercial Code
The act spans §§ 13–13 (634 sections).
(July 9, 1992, P.L.507, No.97, eff. one year)
Official source: Pennsylvania General Assembly. Reproduced from public-domain Pennsylvania statutes; confirm against the official source for the current text. Not legal advice.