8.4-105 - (Effective until October 1, 2010) "Bank"; "depositary bank"; intermediary bank"; "collecting bank"; "payor bank"; "presenting bank.".
§ 8.4-105. (Effective until October 1, 2010) "Bank"; "depositary bank";"intermediary bank"; "collecting bank"; "payor bank"; "presentingbank.".
In this title:
(1) "Bank" means a person engaged in the business of banking, including asavings bank, savings and loan association, credit union or trust company.
(2) "Depositary bank" means the first bank to take an item even though itis also the payor bank, unless the item is presented for immediate paymentover 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 thecourse of collection except the depositary or payor bank;
(5) "Collecting bank" means a bank handling an item for collection exceptthe payor bank;
(6) "Presenting bank" means a bank presenting an item except a payor bank.
(1964, c. 219; 1992, c. 693.)
§ 8.4-105. (Effective October 1, 2010) "Bank"; "depositary bank";"intermediary bank"; "collecting bank"; "payor bank"; "presentingbank."
In this title:
(1) "Bank" means a person engaged in the business of banking, including asavings institution, credit union or trust company;
(2) "Depositary bank" means the first bank to take an item even though itis also the payor bank, unless the item is presented for immediate paymentover 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 thecourse of collection except the depositary or payor bank;
(5) "Collecting bank" means a bank handling an item for collection exceptthe payor bank;
(6) "Presenting bank" means a bank presenting an item except a payor bank.
(1964, c. 219; 1992, c. 693; 2010, c. 794.)