Sec.
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/ak/title-45/chapter-4/secA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 45.04.105. “Bank”; “depositary bank”; “intermediary bank”; “collecting bank”; “payor bank”; “presenting bank.”
In this chapter,
(1)“bank” means a person engaged in the business of banking, including a savings bank, savings and loan association, credit union, or trust company;
(2)“collecting bank” means a bank handling an item for collection except the payor bank;
(3)“depositary bank” means the first bank to take an item even though it is also the payor bank, unless the item is presented for immediate payment over the counter;
(4)“intermediary bank” means a bank to which an item is transferred in course of collection except the depositary or payor bank;
(5)“payor bank” means a bank that is the drawee of a draft;
(6)“presenting bank” means a bank presenting an item except a payor bank.