§ 355-4-105

355.4 -105 'Depositary bank' -- 'Payor bank' -- 'Intermediary bank' -- 'Collecting bank' -- 'Presenting bank.' In this article: (1) (Reserved); (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) 'Collectin g bank' means a bank handling the item for collection except the payor bank; and (6) 'Presenting bank' means a bank presenting an item except a payor bank. Effective: July 12, 2006 History: Amended 2006 Ky. Acts ch. 242, sec. 46, effective July 12, 2006. -- Amended 1996 Ky. Acts ch. 130, sec. 76, effective January 1, 1997. -- Created 1958 Ky. Acts ch. 77, sec. 4 -105, effective July 1, 1960.