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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) A registered clearing corporation can be a holder in due course with respect to a deposited instrument.
(b) The initial entry of an instrument which otherwise meets the requirements of a deposited instrument by a registered clearing corporation on its books for the account of a user or participant having a contractual relationship with the registered clearing corporation shall make the registered clearing corporation a holder under this article which has taken the instrument for value.
(c) Any notice or knowledge of a user or participant having a contractual relationship with a registered clearing corporation shall not be attributed to the registered clearing corporation for purposes of determining the clearing corporation's status as a holder in due course under this article.
(d) Any entries on the books of the registered clearing corporation with respect to a deposited instrument shall not affect its status as a holder or a holder in due course of an instrument.
Cite this article: FindLaw.com - Wyoming Statutes Title 34.1. Uniform Commercial Code § 34.1-3-905. Clearing corporation entitled to holder in due course status - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-341-uniform-commercial-code/wy-st-sect-34-1-3-905/
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