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.
Structure 2021 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 4 - Bank Deposits and Collections
Part 2 - Collection of Items — Depositary and Collecting Banks
§ 47-4-203. Effect of Instructions
§ 47-4-205. Depositary Bank Holder of Unendorsed Item
§ 47-4-206. Transfer Between Banks
§ 47-4-211. When Bank Gives Value for Purposes of Holder in Due Course