When bank gives value for purposes of holder in due course

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 § 47-3-302 on what constitutes a holder in due course. Acts 1963, ch. 81, § 1 (4-209); T.C.A. § 47-4-209 ; Acts 1995, ch. 397, § 3. 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 § 47-3-302 on what constitutes a holder in due course. Acts 1963, ch. 81, § 1 (4-209); T.C.A. § 47-4-209 ; Acts 1995, ch. 397, § 3.