§ 490-4-105

§490:4-105 'Bank'; 'depositary bank'; 'payor bank'; 'intermediary bank'; 'collecting bank'; 'presenting bank'. In this article: (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 an item for collection, except the payor bank; (6) 'Presenting bank' means a bank presenting an item, except a payor bank. [L 1965, c 208, §4-105; HRS §490:4-105; am L 1991, c 118, pt of §4]