Rs 10 4 105

RS 10:4-105 - '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 an item for collection except the payor bank; (6) 'Presenting bank' means a bank presenting an item except a payor bank. Acts 1992, No. 1133, §4, eff. July 1, 1993; Acts 1993, No. 948, §10, eff. Jan. 1, 1994.