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 § 8.3A-302 on what constitutes a holder in due course.
Code 1950, §§ 6-378, 6-379; 1964, c. 219; 1992, c. 693.
Structure Code of Virginia
Title 8.4 - Commercial Code - Bank Deposits and Collections
§ 8.4-202. Responsibility for collection or return; when action timely
§ 8.4-203. Effect of instructions
§ 8.4-204. Methods of sending and presenting; sending directly to payor bank
§ 8.4-205.1. Depositary bank holder of unendorsed item
§ 8.4-206. Transfer between banks
§ 8.4-207.1. Transfer warranties
§ 8.4-207.2. Presentment warranties
§ 8.4-207.3. Encoding and retention warranties
§ 8.4-208. Security interest of collecting bank in items, accompanying documents and proceeds
§ 8.4-209. When bank gives value for purposes of holder in due course
§ 8.4-211.1. Medium and time of settlement by bank
§ 8.4-212. Right of charge-back or refund; liability of collecting banks; return of item