{"data":{"id":"us-nm/55-4-211","jurisdiction":"us-nm","citation":"55-4-211","heading":"When bank gives value for purposes of holder in due course.","body":"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 55-3-302 NMSA 1978 on what constitutes a holder in due course.\nOFFICIAL COMMENTS\nUCC Official Comments © by ALI \u0026 the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.\nThe section completes the thought of the previous section and makes clear that a security interest in an item is \"value\" for the purpose of determining the holder's status as a holder in due course. The provision is in accord with the prior law (N.I.L. Section 27) and with Article 3 (Section 3-303) [55-3-303 NMSA 1978]. The section does not prescribe a security interest under Section 4-210 [55-4-210 NMSA 1978] as a test of \"value\" generally because the meaning of \"value\" under other Articles is adequately defined in Section 1-201 [55-1-201 NMSA 1978].","path":["Chapter 55 - Uniform Commercial Code","ARTICLE 4 Bank Deposits and Collections"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18558/index.do","current_through":"2024-04-27","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"135c4538a52c991635bb67037e18d8068832c301b82c0a4b78d6b148f576acc0","source_id":"us-nm","stale":false,"prev":"us-nm/55-4-210","next":"us-nm/55-4-212"},"notice":"GroundRules: Original legal text. Not legal advice."}