§ 4-105. 4-105
138 words·~1 min read·
/us/ucc/a4/s4-105A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In this Article :
(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)" 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;
(3)" Payor bank " means a bank that is the drawee of a draft ;
(4)" Intermediary bank " means a bank to which an item is transferred in course of collection except the depositary or payor bank ;
(5)" Collecting bank " means a bank handling an item for collection except the payor bank ;
(6)" Presenting bank " means a bank presenting an item except a payor bank .