§ 30-4-105

30-4-105. 'Bank' -- 'depositary bank' -- 'intermediary bank' -- 'collecting bank' -- 'payor bank' -- 'presenting bank'. In this chapter, unless the context otherwise requires: (1) 'bank' means any 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. History: En. Sec. 4-105, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-105; amd. Sec. 158, Ch. 410, L. 1991.