“Bank”; “depositary bank”; “intermediary bank”; “collecting bank”; “payor bank”; “presenting bank.” (§ 8.4-105)

§ 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;

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 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.