70A-4-106. Payable through or payable at bank -- Collecting bank.
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70A-4-106. Payable through or payable at bank -- Collecting bank.
(1)If an item states that it is "payable through" a bank identified in the item:
(a)the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and
(b)the item may be presented for payment only by or through the bank.
(2)If an item states that it is "payable at" a bank identified in the item:
(a)the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and
(b)the item may be presented for payment only by or through the bank.
(3)If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a codrawee or a collecting bank, the bank is a collecting bank.
Repealed and Re-enacted by Chapter 237 , 1993 General Session