25-4-209. 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 G.S. 25-3-302 on what constitutes a holder in due course. (1899, c. 733, s. 27; Rev., s. 2175; C.S., s. 3007; 1965, c. 700, s. 1; 1995, c. 232, s. 2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 25 - Uniform Commercial Code
Article 4 - Bank Deposits and Collections.
§ 25-4-103 - Variation by agreement; measure of damages; action constituting ordinary care.
§ 25-4-104 - Definitions and index of definitions.
§ 25-4-105.1 - Payable through or payable at bank; collecting bank.
§ 25-4-106 - Separate office of a bank.
§ 25-4-107 - Time of receipt of items.
§ 25-4-110 - Electronic presentment.
§ 25-4-111 - Statute of limitations.
§ 25-4-202 - Responsibility for collection or return; when action timely.
§ 25-4-203 - Effect of instructions.
§ 25-4-204 - Methods of sending and presenting; sending directly to payor.
§ 25-4-205 - Depositary bank holder of unindorsed item.
§ 25-4-206 - Transfer between banks.
§ 25-4-207 - Transfer warranties.
§ 25-4-207.1 - Presentment warranties.
§ 25-4-207.2 - Encoding and retention warranties.
§ 25-4-208 - Security interest of collecting bank in items, accompanying documents and proceeds.
§ 25-4-209 - When bank gives value for purposes of holder in due course.
§ 25-4-211 - Medium and time of settlement by bank.
§ 25-4-212 - Right of charge-back or refund; liability of collecting bank; return of item.
§ 25-4-214 - Insolvency and preference.
§ 25-4-302 - Payor bank's responsibility for late return of item.
§ 25-4-401 - When bank may charge customer's account.
§ 25-4-403 - Customer's right to stop payment; burden of proof of loss.
§ 25-4-404 - Bank not obligated to pay check more than six months old.
§ 25-4-405 - Death or incompetence of customer.
§ 25-4-406 - Customer's duty to discover and report unauthorized signature or alteration.
§ 25-4-407 - Payor bank's right to subrogation on improper payment.
§ 25-4-502 - Presentment of "on arrival" drafts.
§ 25-4-504 - Privilege of presenting bank to deal with goods; security interest for expenses.