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.
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