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 36-3-302 on what constitutes a holder in due course.
S.C. Code Ann. § 36-4-211
When bank gives value for purposes of holder in due course
Known as the Uniform Commercial Code
The act spans §§ 36–36 (519 sections).
1962 Code SECTION 10.4-211; 1966 (54) 2716; 2008 Act No. 204, SECTION 3, eff July 1, 2008.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.