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Can you summarize IACO 554.4211?
UNIFORM COMMERCIAL CODE > When bank gives value for purposes of holder in due course.
Short Summary
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 554.3302 on what constitutes a holder in due course. [S13, 3060-a27; C24, 27, 31, 35, 39, 9487; C46, 50, 54, 58, 62, 541.27; C66, 71, 73, 75, 77, 79, 81, 554.4209] 94 Acts, ch 1167, 96, 120, 122 C95, 554.4211 Referred to in 554.5102
Jurisdiction
Iowa