§ 8.4-105 “Bank”; “depositary bank”; “intermediary bank”; “collecting bank”; “payor bank”; “presenting bank.”
In this title:
1. “Bank” means a person engaged in the business of banking, including a savings institution, 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;
4. “Intermediary bank” means a bank to which an item is transferred in the 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.
History
This law was first created in 1964. The record of its establishment is cataloged in chapter 219 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1964 “Acts” aren’t available online. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1992, chapter 693; in 2010, chapter 794.
1964, c. 219; 1992, c. 693; 2010, c. 794.