355.4-105 "Depositary bank" -- "Payor bank" -- "Intermediary bank" -- "Collecting bank" -- "Presenting bank." In this article: (1) (2) (3) (4) (5) (Reserved); "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; "Payor bank" means a bank that is the drawee of a draft; "Intermediary bank" means a bank to which an item is transferred in course of collection except the depositary or payor bank; "Collecting 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.
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