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 § 47-3-302 on what constitutes a holder in due course.
Tenn. Code Ann. § 47-4-211
When bank gives value for purposes of holder in due course
Known as the Uniform Commercial Code
The act spans §§ 47–47 (578 sections).
Acts 1963, ch. 81, § 1 (4-209); T.C.A. § 47-4-209; Acts 1995, ch. 397, § 3.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.