Texas Business and Commerce Code 4.211 – When Bank Gives Value for Purposes of Holder in Due Course
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Terms Used In Texas Business and Commerce Code 4.211
- Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Texas Business and Commerce Code 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 Section 3.302 on what constitutes a holder in due course.