Kentucky Statutes 355.4-211 – 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 KRS § 355.3-302 on what constitutes a holder in due course.
Effective: January 1, 1997
History: Repealed, reenacted, renumbered as KRS § 355.4-211, and amended 1996 Ky.
Acts ch. 130, sec. 93, effective January 1, 1997. — Created 1958 Ky. Acts ch. 77, sec.
4-209, effective July 1, 1960.
Formerly codified as KRS § 355.4-209.
History for former KRS § 355.4-211: Repealed, reenacted, and renumbered as KRS
355.4-213, 1996 Ky. Acts ch. 130, sec. 95, effective January 1, 1997. — Created
1958 Ky. Acts ch. 77, sec. 4-211, effective July 1, 1960.
Effective: January 1, 1997
Terms Used In Kentucky Statutes 355.4-211
- Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Kentucky Statutes 355.4-104
History: Repealed, reenacted, renumbered as KRS § 355.4-211, and amended 1996 Ky.
Acts ch. 130, sec. 93, effective January 1, 1997. — Created 1958 Ky. Acts ch. 77, sec.
4-209, effective July 1, 1960.
Formerly codified as KRS § 355.4-209.
History for former KRS § 355.4-211: Repealed, reenacted, and renumbered as KRS
355.4-213, 1996 Ky. Acts ch. 130, sec. 95, effective January 1, 1997. — Created
1958 Ky. Acts ch. 77, sec. 4-211, effective July 1, 1960.