Course.
For purposes of determining its status as a holder in due course, the
bank has given value to the extent that it has a security interest in an
item provided that the bank otherwise complies with the requirements of
Section 3--302 on what constitutes a holder in due course.
Structure New York Laws
Article 4 - Bank Deposits and Collections
Part 2 - Collection of Items: Depositary and Collecting Banks
4-202 - Responsibility for Collection; When Action Seasonable.
4-203 - Effect of Instructions.
4-204 - Methods of Sending and Presenting; Sending Direct to Payor Bank.
4-205 - Supplying Missing Indorsement; No Notice From Prior Indorsement.
4-206 - Transfer Between Banks.
4-208 - Security Interest of Collecting Bank in Items, Accompanying Documents and Proceeds.
4-209 - When Bank Gives Value for Purposes of Holder in Due Course.
4-211 - Media of Remittance; Provisional and Final Settlement in Remittance Cases.