§ 4106. Payable through or payable at bank; collecting bank.
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/pa/title-13/chapter-41/4106A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 4106. Payable through or payable at bank; collecting bank.
(a)"Payable through" a bank.-- If an item states that it is "payable through" a bank identified in the item, the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and the item may be presented for payment only by or through the bank.
(b)"Payable at" a bank.-- If an item states that it is "payable at" a bank identified in the item, the item is equivalent to a draft drawn on the bank.
(c)Draft names nonbank drawee.-- If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a co-drawee or a collecting bank, the bank is a collecting bank.
13c4106v
(July 9, 1992, P.L.507, No.97, eff. one year)
1992 Amendment. Act 97 added present section 4106 and renumbered former section 4106 to present section 4107.
13c4107s