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§ 4-105. Definitions of types of banks

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 4. Bank Deposits and Collections (Refs & Annos)
Part 1. General Provisions and Definitions
12A Okl.St.Ann. § 4-105
§ 4-105. Definitions of types of banks
Currentness
DEFINITIONS OF TYPES OF BANKS
In this article:
(1) Reserved;
(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.

Credits

Laws 1991, c. 117, § 98, eff. Jan. 1, 1992; Laws 2009, c. 208, § 15, eff. Nov. 1, 2009.
12A Okl. St. Ann. § 4-105, OK ST T. 12A § 4-105
Current with emergency effective legislation through Chapter 125 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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