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 Code Section 11-3-302 on what constitutes a holder in due course.
History. Code 1933, § 109A-4-209, enacted by Ga. L. 1962, p. 156, § 1; Code 1981, § 11-4-211 , as redesignated by Ga. L. 1996, p. 1306, § 9.
Editor’s notes.
Ga. L. 1996, p. 1306, § 10, effective July 1, 1996, renumbered former Code Section 11-4-209 as present Code Section 11-4-211 and renumbered former Code Section 11-4-211 as present Code Section 11-4-213.
Structure Georgia Code
Article 4 - Bank Deposits and Collections
Part 2 - Collection of Items: Depositary and Collecting Banks
§ 11-4-202. Responsibility for Collection or Return; When Action Timely
§ 11-4-203. Effect of Instructions
§ 11-4-204. Methods of Sending and Presenting; Sending Directly to Payor Bank
§ 11-4-205. Depositary Bank Holder of Unindorsed Item
§ 11-4-206. Transfer Between Banks
§ 11-4-207. Transfer Warranties
§ 11-4-208. Presentment Warranties
§ 11-4-209. Encoding and Retention Warranties
§ 11-4-210. Security Interest of Collecting Bank in Items, Accompanying Documents, and Proceeds
§ 11-4-211. When Bank Gives Value for Purposes of Holder in Due Course
§ 11-4-213. Medium and Time of Settlement by Bank
§ 11-4-214. Right of Charge-Back or Refund; Liability of Collecting Bank; Return of Item