New York Uniform Commercial Code Law Section 4-209 - When Bank Gives Value for Purposes of Holder in Due Course.

Section 4--209. When  Bank  Gives  Value  for  Purposes of Holder in Due
                Course.
For purposes of determining its status as a holder in due course,  the
  bank has given value to the extent that it has a security interest in an
  item  provided that the bank otherwise complies with the requirements of
  Section 3--302 on what constitutes a holder in due course.

Last modified: February 3, 2019