Tennessee Code 47-4-211 – When bank gives value for purposes of holder in due course
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Tennessee Code 47-4-211
- Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Tennessee Code 47-4-104
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 § 47-3-302 on what constitutes a holder in due course.