South Dakota Codified Laws 57A-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 § 57A-3-302 on what constitutes a holder in due course.
Terms Used In South Dakota Codified Laws 57A-4-211
- Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See South Dakota Codified Laws 57A-4-104
Source: SL 1994, ch 368, § 4-211.