Connecticut General Statutes 42a-4-211 – When bank gives value for purposes of holder in due course
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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 42a-3-302 on what constitutes a holder in due course.
Terms Used In Connecticut General Statutes 42a-4-211
- item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Connecticut General Statutes 42a-4-104