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§ 47-4106 Payable through or payable at bank; collecting bank

AZ Rev Stat § 47-4106 (2019) (N/A)
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47-4106. Payable through or payable at bank; collecting bank

A. If an item states that it is " payable through" a bank identified in the item:

1. The item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and

2. The item may be presented for payment only by or through the bank.

B. If an item states that it is " payable at" a bank identified in the item, the item is equivalent to a draft drawn on the bank.

C. If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a co-drawee or a collecting bank, the bank is a collecting bank.

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§ 47-4105 "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank"
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§ 47-4107 Separate office of bank