47-4105. ' Bank' ; ' depositary bank' ; ' payor bank' ; ' intermediary bank' ; ' collecting bank' ; ' presenting bank' In this chapter: 1. ' Bank' means a person engaged in the business of banking, including a savings bank, savings and loan association, 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 course of collection except the depositary or payor bank. 5. ' Collecting bank' means a bank handling the item for collection except the payor bank. 6. ' Presenting bank' means any bank presenting an item except a payor bank.
Arizona Legal Code