                                 CODE OF VIRGINIA

&#8220;BANK&#8221;; &#8220;DEPOSITARY BANK&#8221;; &#8220;INTERMEDIARY
BANK&#8221;; &#8220;COLLECTING BANK&#8221;; &#8220;PAYOR BANK&#8221;;
&#8220;PRESENTING BANK.&#8221; (§ 8.4-105)

In this title:

1. &#8220;Bank&#8221; means a person engaged in the business of banking,
including a savings institution, credit union or trust company;

2. &#8220;Depositary bank&#8221; 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. &#8220;Payor bank&#8221; means a bank that is the drawee of a draft;

4. &#8220;Intermediary bank&#8221; means a bank to which an item is transferred
in the course of collection except the depositary or payor bank;

5. &#8220;Collecting bank&#8221; means a bank handling an item for collection
except the payor bank;

6. &#8220;Presenting bank&#8221; means a bank presenting an item except a payor
bank.

HISTORY: 1964, c. 219; 1992, c. 693; 2010, c. 794.