South Carolina Code of Laws
Chapter 4 - Commercial Code - Bank Deposits And Collections
Section 36-4-211. 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 36-3-302 on what constitutes a holder in due course.
HISTORY: 1962 Code Section 10.4-211; 1966 (54) 2716; 2008 Act No. 204, Section 3, eff July 1, 2008.

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Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 36 - Commercial Code

Chapter 4 - Commercial Code - Bank Deposits And Collections

Section 36-4-101. Short title.

Section 36-4-102. Applicability

Section 36-4-103. Variation by agreement; measure of damages; action constituting ordinary care.

Section 36-4-104. Definitions and index of definitions.

Section 36-4-105. Definitions of types of banks.

Section 36-4-106. Payable through or payable at bank; collecting bank.

Section 36-4-107. Separate office of bank.

Section 36-4-108. Time of receipt of items.

Section 36-4-109. Delays.

Section 36-4-110. Electronic presentment.

Section 36-4-111. Statute of limitations.

Section 36-4-201. Status of collecting bank as agent and provisional status of credits; applicability of article; item indorsed "pay any bank".

Section 36-4-202. Responsibility for collections or return; when action timely.

Section 36-4-203. Effect of instructions.

Section 36-4-204. Methods of sending and presenting; sending directly to payor bank.

Section 36-4-205. Depositary bank holder of unindorsed item.

Section 36-4-206. Transfer between banks.

Section 36-4-207. Transfer warranties.

Section 36-4-208. Presentment warranties.

Section 36-4-209. Encoding and retention warranties.

Section 36-4-210. Security interest of collecting bank in items, accompanying documents, and proceeds.

Section 36-4-211. When bank gives value for purposes of holder in due course.

Section 36-4-212. Presentment by notice of item not payable by, through, or at bank; liability of drawer or indorser.

Section 36-4-213. Medium and time of settlement by bank.

Section 36-4-214. Right of charge-back or refund; liability of collecting bank; return of item.

Section 36-4-215. Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal.

Section 36-4-216. Insolvency and preference.

Section 36-4-301. Posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.

Section 36-4-302. Payor bank's responsibility for late return of item.

Section 36-4-303. When items subject to notice, stop-payment order, legal process, or setoff; order in which items may be changed or certified.

Section 36-4-401. When bank may charge customer's account.

Section 36-4-402. Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account.

Section 36-4-403. Customer's right to stop payment; burden of proof of loss.

Section 36-4-404. Bank not obliged to pay check more than six months old.

Section 36-4-405. Death or incompetence of a customer.

Section 36-4-406. Customer's duty to discover and report unauthorized signature or alteration.

Section 36-4-407. Payor bank's right to subrogation on improper payment.

Section 36-4-501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.

Section 36-4-502. Presentment of "on arrival" drafts.

Section 36-4-503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need.

Section 36-4-504. Privilege of presenting bank to deal with goods; security interest for expenses.