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 § 4-3-302 on what constitutes a holder in due course.
History. Acts 1961, No. 185, § 4-209; A.S.A. 1947, § 85-4-209; Acts 1991, No. 572, § 6.
A.C.R.C. Notes. This section was formerly codified as § 4-4-209. Former § 4-4-211 has been renumbered as § 4-4-213.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 4 - Bank Deposits and Collections
Part 2 - Collection of Items — Depositary and Collecting Banks
§ 4-4-202. Responsibility for collection or return — When action timely
§ 4-4-203. Effect of instructions
§ 4-4-204. Methods of sending and presenting — Sending directly to payor bank
§ 4-4-205. Depositary bank holder of unindorsed item
§ 4-4-206. Transfer between banks
§ 4-4-207. Transfer warranties
§ 4-4-208. Presentment warranties
§ 4-4-209. Encoding and retention warranties
§ 4-4-210. Security interest of collecting bank in items, accompanying documents, and proceeds
§ 4-4-211. When bank gives value for purposes of holder in due course
§ 4-4-213. Medium and time of settlement by bank
§ 4-4-214. Right of charge-back or refund — Liability of collecting bank — Return of item