1. The bank shall acquire the ownership of the discounted commercial paper and it may use all rights of the bearer and it may have recourse against the signatories of the commercial paper. 2. The bank shall further have, vis-a-vis the beneficiary of the discount, an independent right to recover the sums it has placed at his disposal, without deducting such interest and commission which were received by the bank. 3. Without prejudice to the provisions related to the current account, the bank shall exercise such right within the limits of the unpaid commercial papers, regardless of the cause of non-payment of the discounted commercial papers.
Interpretation and application must be checked against the official text and current version.