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 336.3-302 on what constitutes a holder in due course.
Minn. Stat. § 336.4-211
1965 c 811 s 336.4-209; 1992 c 565 s 93