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§ 4-105. "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank"

MD Comm L Code § 4-105 (2019) (N/A)
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In this title:

(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; and

(6)    “Presenting bank” means a bank presenting an item except a payor bank.

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§ 4-106. Payable through or payable at bank; collecting bank