§4-209. When bank gives value for purposes of holder in due course
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 section 3-1302 on what constitutes a holder in due course. [PL 1993, c. 293, Pt. B, §29 (AMD).]
SECTION HISTORY
PL 1993, c. 293, §B29 (AMD).
Structure Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL 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-A. Transfer warranties
11 §4-207-B. Presentment warranties
11 §4-207-C. Encoding and retention warranties
11 §4-208. Security interest of collecting bank in items, accompanying documents and proceeds
11 §4-209. When bank gives value for purposes of holder in due course
11 §4-211. Media of remittance; provisional and final settlement in remittance cases (REPEALED)
11 §4-211-A. Medium and time of settlement by bank
11 §4-212. Right of charge-back or refund; liability of collecting bank; return of item