Louisiana Revised Statutes 10:4-211 – When bank gives value for purposes of holder in due course
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Terms Used In Louisiana Revised Statutes 10:4-211
- Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Louisiana Revised Statutes 10:4-104
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 La. Rev. Stat. 10:3-302 on what constitutes a holder in due course.
Acts 1992, No. 1133, §4, eff. July 1, 1993; Acts 1993, No. 948, §10, eff. Jan. 1, 1994.